This morning, a prominent crypto analyst on Twitter, Ali, shared insightful observations regarding Ethereum (ETH), the leading altcoin. Ali noted a surge in ETH’s active users, transaction volume, and blockspace demand, which could signify a robust adoption of the ETH network. These findings suggest a healthy outlook for ETH’s future growth and development.
The analyst has conveyed that the monthly average of active ETH addresses has been dismissed by the yearly average, indicating a decline in network fundamentals and utilization.
In recent developments, ETH has secured a spot on CoinMarketCap’s trending roster, taking the 9th position. However, despite its upward trajectory, the leading altcoin is exchanging hands at $1,847.78, following a 3.17% dip in value over the past 24 hours, as the crypto market tracking website reported.
Following a daily high of $1,938.42 and a low of $1,829.41, the altcoin experienced a decline in value, resulting in a 0.65% weakening against its primary rival, Bitcoin (BTC). Regrettably, this setback did not deter ETH’s trading volume, which currently stands at $8,579,747,921, marking an impressive 80% increase in the past 24 hours.
Despite a slight dip in the last hour of trading, Ethereum (ETH) has maintained its positive trajectory over longer time frames. The cryptocurrency has seen a 0.52% increase over the past seven days and remains green, with a 1.19% gain over the last month. While there was a minor setback in the short term, ETH’s overall performance remains steady and promising.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
