The Currency analytics
By Steven Anderson
Ethereum smashed past $3,000. The move caught traders' attention as analysts started drawing comparisons to the wild 2017 run when ETH rocketed from $56 to over $1,100 in just a…
Leshka.eth thinks the ETH/BTC chart looks pretty much identical to the 2015-2018 cycle. Back then, Ethereum went through accumulation, breakout, and rally phases.
ETH sits around $3,000 now. Up nearly 4% in 24 hours.
The key level everyone's watching is $3,000. Traders think ETH could hit $3,200 if it holds here, but recent gains might disappear if support breaks.
Despite being 32% down from October's peak, futures data shows renewed trader interest. Open interest climbed back to about 5 million ETH.
On-chain activity looks solid. Non-empty ETH wallets hit 175 million, which is a record across all crypto networks. But spot ETH ETFs saw a $63.
Ethereum's exchange reserves dropped to multi-year lows on January 28, per Glassnode. More investors are pulling coins off exchanges, probably expecting prices to rise.
The derivatives market went crazy too. Deribit recorded $1.2 billion in Ethereum options trading volume on January 26.
Trading volume hit $25 billion over 24 hours on January 29, according to CoinGecko. That's serious activity showing strong market interest as traders react to recent moves and…
CME Group said Ethereum futures contracts are seeing rising open interest on January 27. Institutional players are actively engaging with ETH derivatives, probably expecting…
Market sentiment stays mixed as traders monitor the coming days for developments. The $3,000 level is critical, with many wondering if Ethereum can keep momentum going.
Network fundamentals remain strong despite price volatility. Santiment confirmed that non-empty wallet milestone of 175 million shows growing adoption within the Ethereum…
Ethereum's recovery against Bitcoin caught many traders off guard after the recent weakness.
The comparison to 2017 isn't perfect though. Market conditions are different now with more institutional involvement and regulatory uncertainty. Leshka.
Traders are positioning for volatility either way. Options activity shows big bets on both sides, with some expecting explosive moves higher while others prepare for potential…