Most of the leading ten cryptocurrencies are experiencing positive trading activity today, including the top altcoin by market capitalization, Ethereum (ETH). As per CoinMarketCap, ETH is presently valued at approximately $1,710.36, reflecting a 3.45% surge in price within the last 24 hours. During this period, ETH also attained a high of $1,726.62 and a low of $1,644.54, showcasing its volatility.
The weekly performance of the altcoin is showing promising signs, with ETH experiencing a surge of over 20% in the last seven days. However, the 24-hour trading volume is currently in the red zone, with a significant decrease of more than 20% since yesterday, bringing it to $9,849,552,804. Despite this, ETH’s market cap remains strong at $209,313,510,016.
On March 16, the esteemed market intelligence platform, Santiment, took to Twitter to divulge its astute observations regarding the recent conduct of ETH holders. Santiment’s meticulous data analysis shows that addresses clutching 10-10k ETH have amassed a staggering 3 million coins over the past year.
Conversely, Ethereum addresses boasting a balance of 10,000 to 10 million ETH have offloaded a staggering 9 million ETH during the identical timeframe. Additionally, a cryptocurrency expert took to Twitter yesterday to divulge their astute observations regarding ETH.
As per the analyst’s assessment, the critical obstacle for ETH’s supply is $1,720 to $2,150. However, the analyst also noted that if the bulls can successfully surpass these crucial levels, no significant resistance would impede the upward trajectory of ETH’s price.
