Ethereum

Ethereum To Surge More Than 50% By End Of Q1! Metrics Hints ETH Price Run To $4000

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Feb 3, 2022

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Highlights

    Ethereum spectates a rise in non-exchange address holders of the asset.

    Fidelity to add Ethereum to their platform, following Ethereum’s rise in institutional demand.

The global crypto market’s second-largest crypto asset has been a prominent topic for talks amongst crypto citizens. Ethereum is now constantly under the radar of investors and traders, following positive metrics of the asset, alongside feedback and inputs coming from financial leaders. 

The leader of altcoins has been witnessing a rise in non-exchange address holders of the asset, alongside a number of positive metrics on-chain. Out of a myriad of reasons to merry about, an update coming in from Fidelity. Of them adding Ethereum to their platform has been holding significance amongst the tribe.

Will Ethereum Triumph Over Its Limitations This Season?

The star altcoin has been raging ahead at numerous fronts and has been holding its hegemony with TVL, DeFi, NFTs, and utility. Despite the network’s blemishes, which has been receiving praises from proponents and geeks. Successively, the metrics of Ethereum have been distinctively sound at varied fronts.

According to sources, Ethereum whale holders are continuing to trend assets towards non-exchange addresses, irrespective of the past volatility. The top-10 largest non-exchange addresses now hold 24.31 M ETH. In comparison to 5.83 M ETH held by the top-10 exchange addresses. Moreover, the number of addresses from exchanges for 7D MA has reached a 3-month low of 3776.351.

In succession, Ethereum has been ranging in the $2600 to $2800 bandwidth for the past couple of days. The number of unique ETH transacting addresses has remained high. Which has propelled the address activity ratio to highs from August. Where prices shot to highs of  51%. In contrast, the number of addresses holding over 0.1 ETH has claimed a new high of 6,860,716.

While folks have been pessimistic around Ethereum’s London hard fork update. Research papers from researchers at Peking University and Duke University suggest that users have been experiencing lower transaction waiting times with EIP-1559. In contrast, Fidelity executive in a recent interview had cited the plans to add Ethereum to their platform. Following Ethereum’s rise in institutional demand. 

Summing up, as previously reported by CoinPedia, Ethereum has been escalating with TVL, NFTs, and L-2’s at a brisk rate. What has been impelling is statements from renowned personalities from the financial sector. 

And reports suggest that ultrawealthy have been prioritizing ETH over BTC. Concluding the growing metrics have been imparting optimism amongst ETH holders and altcoins. Moreover, ETH 2.0 rolling out would be the fuel to ETH price rocketing to an ATH.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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