Altcoins News
By James Thorp
1 / 15
BitMine bought big. The company grabbed 51,162 Ethereum tokens worth $93 million on February 23, but the crypto market didn't really care.
2 / 15
The institutional buy ranks among the biggest recent purchases, yet Ethereum can't catch a break.
3 / 15
The Parabolic SAR indicator moved above price candles, confirming bears control the short-term trend. If ETH breaks below $1,750 support, the next stop could be $1,595.
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Holder behavior tells an interesting story about market psychology right now. Short-term investors moved into mid-term positions, with 3-to-6 month supply jumping 5% last week.
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The $1,880 to $1,900 demand zone that traders watched closely? Gone. ETH sliced through it like butter during the recent selloff.
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Crypto analyst Julia Tan thinks getting back above $1,928 could restore confidence pretty fast.
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Network activity stays solid despite price weakness. Etherscan data from February 24 shows daily transactions holding steady around normal levels.
8 / 15
Whale movements caught attention this week. Whale Alert spotted several transfers exceeding 10,000 ETH each, suggesting major holders are repositioning.
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Macro factors keep weighing on crypto markets. Global economic uncertainty makes investors nervous about risk assets like Ethereum.
10 / 15
February 24 matters for technical reasons too. Developers are prepping the Shanghai upgrade that should boost transaction speeds and cut gas fees.
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Glassnode data shows active addresses hit 600,000 on February 23, up from recent lows. More people are using the network even as prices struggle.
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Mark Yusko spoke to CNBC on February 22 about Ethereum's future. "The network's evolution is crucial for maintaining its competitive edge," he said.
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DeFi platforms built on Ethereum still attract serious money. DeFi Pulse shows $45 billion locked in Ethereum-based protocols as of February 24.
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NFT activity picked up on February 25. OpenSea hit $50 million in daily trading volume, showing people still care about digital collectibles.
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Vitalik Buterin addressed the community during a virtual event February 23. He talked up the Shanghai upgrade and its potential to fix scalability issues.
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