The post 5 key metrics hint at Ethereum’s next big bull run appeared on BitcoinEthereumNews.com.

Ethereum whales are accumulating while reduced selling pressure hints at a potential supply squeeze. Growing daily transactions and short-term holder interest suggest ETH’s next bullish phase is near. Ethereum [ETH] is positioned as the next crypto to attract substantial capital inflows, according to analysis from blockchain intelligence platform IntoTheBlock.  While Bitcoin [BTC] recently reached a record-breaking all-time high of $99,261.30, Ethereum’s price sits at $3,365.66, with a 24-hour trading volume of over $55 billion.  Despite underperforming Bitcoin’s recent gains, Ethereum may be poised for a bullish breakout, with key metrics offering insights into its next trajectory. Daily transactions showing steady growth The number of transactions on the Ethereum network has increased notably in recent months. IntoTheBlock’s data reveals that daily transactions have grown from 1.1 million to 1.22 million in the last three months.  This steady rise indicates increased usage of the Ethereum network, which could be a precursor to greater price activity. Source: IntoTheBlock An uptick in daily transaction volume is often seen as an early signal of heightened interest among users and investors, which could fuel further momentum in Ethereum’s price. Large holders display confidence Whale activity is another crucial indicator being monitored. According to IntoTheBlock, holders of at least 0.1% of Ethereum’s circulating supply are showing a positive net flow, signaling their confidence in the asset.  This pattern suggests accumulation by larger investors, which has historically aligned with upward price movements. The reduced selling pressure from these large holders indicates that they may be anticipating further gains. Such behavior typically signifies optimism among institutional and high-net-worth investors, who often drive substantial market trends. Increasing interest among short-term holders Short-term Ethereum holders—those who have held the asset for less than a month—are also being closely watched. An increase in the number of these holders suggests renewed interest from…

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Filed under: News - @ November 23, 2024 1:25 am