- Deposits of $9.3 billion in ERC-20 stablecoins into major exchanges could signal a bullish Ethereum rally.
- Increased activity in Ethereum’s active addresses suggested rising retail interest in the asset.
Ethereum [ETH] is riding a wave of positive momentum, reflecting the broader cryptocurrency market’s recent gains.
Although Ethereum has not yet reached its previous all-time high, it has experienced a significant upswing. Over the past few days, the alt coin has surged by more than 8%, reaching a high of $2,872, at press time.
This marks a notable recovery, placing the asset approximately 42.7% below its record high of $4,878 from November 2021.
The recent gains signaled increasing investor interest and highlighted the alt coin’s resilience as it continues to attract market attention alongside Bitcoin’s recent upward movement.
Meanwhile, an intriguing development within the Ethereum network has been identified by a CryptoQuant analyst known as Mac.D.
According to the analyst, in the wake of the U.S. presidential election results, a substantial $9.3 billion worth of ERC-20 stablecoins flowed into cryptocurrency exchanges.
This represents the second-largest influx of ERC-20 stablecoins since their inception.
Breaking down these deposits, Binance received around $4.3 billion, while Coinbase saw an inflow of about $3.4 billion. The remainder was distributed among smaller exchanges.
Source: CryptoQuant
Historically, large inflows of this magnitude have correlated with bullish rallies in the market, as seen during the period between September 2020 and February 2021.
If this pattern holds, Ethereum and the broader market may be poised for another upward trend.
Ethereum’s rising retail interest and network activity
In addition to the surge of ERC-20 stablecoin inflows, another promising trend for Ethereum has emerged in its retail activity.
Data from Glassnode indicated a rise in Ethereum’s active addresses, a key metric for gauging retail interest and network utilization.
Source: CryptoQuant
Following a dip below 400,000 active addresses in late October, the number has since climbed to over 430,000.
This increase reflects heightened activity on the network, suggesting renewed interest from individual participants and a possible uptick in network demand.
The growth in active addresses can have meaningful implications for Ethereum’s price trajectory.
Increased activity often signals higher demand and greater usage of the network, which can create upward pressure on the asset’s value.
Read Ethereum’s [ETH] Price Prediction 2024–2025
Retail investors engaging more with Ethereum can drive liquidity and price stability while indicating growing confidence in the market.
This trend, combined with rising stablecoin inflows and strong exchange activity, paints an optimistic picture of Ethereum’s near-term potential.
- Deposits of $9.3 billion in ERC-20 stablecoins into major exchanges could signal a bullish Ethereum rally.
- Increased activity in Ethereum’s active addresses suggested rising retail interest in the asset.
Ethereum [ETH] is riding a wave of positive momentum, reflecting the broader cryptocurrency market’s recent gains.
Although Ethereum has not yet reached its previous all-time high, it has experienced a significant upswing. Over the past few days, the alt coin has surged by more than 8%, reaching a high of $2,872, at press time.
This marks a notable recovery, placing the asset approximately 42.7% below its record high of $4,878 from November 2021.
The recent gains signaled increasing investor interest and highlighted the alt coin’s resilience as it continues to attract market attention alongside Bitcoin’s recent upward movement.
Meanwhile, an intriguing development within the Ethereum network has been identified by a CryptoQuant analyst known as Mac.D.
According to the analyst, in the wake of the U.S. presidential election results, a substantial $9.3 billion worth of ERC-20 stablecoins flowed into cryptocurrency exchanges.
This represents the second-largest influx of ERC-20 stablecoins since their inception.
Breaking down these deposits, Binance received around $4.3 billion, while Coinbase saw an inflow of about $3.4 billion. The remainder was distributed among smaller exchanges.
Source: CryptoQuant
Historically, large inflows of this magnitude have correlated with bullish rallies in the market, as seen during the period between September 2020 and February 2021.
If this pattern holds, Ethereum and the broader market may be poised for another upward trend.
Ethereum’s rising retail interest and network activity
In addition to the surge of ERC-20 stablecoin inflows, another promising trend for Ethereum has emerged in its retail activity.
Data from Glassnode indicated a rise in Ethereum’s active addresses, a key metric for gauging retail interest and network utilization.
Source: CryptoQuant
Following a dip below 400,000 active addresses in late October, the number has since climbed to over 430,000.
This increase reflects heightened activity on the network, suggesting renewed interest from individual participants and a possible uptick in network demand.
The growth in active addresses can have meaningful implications for Ethereum’s price trajectory.
Increased activity often signals higher demand and greater usage of the network, which can create upward pressure on the asset’s value.
Read Ethereum’s [ETH] Price Prediction 2024–2025
Retail investors engaging more with Ethereum can drive liquidity and price stability while indicating growing confidence in the market.
This trend, combined with rising stablecoin inflows and strong exchange activity, paints an optimistic picture of Ethereum’s near-term potential.
clomid prescription uk can i get cheap clomid without dr prescription generic clomiphene tablets how can i get clomiphene without prescription where to get generic clomiphene where to buy generic clomid pill can i order cheap clomiphene without insurance
Good blog you be undergoing here.. It’s intricate to espy high quality article like yours these days. I justifiably comprehend individuals like you! Go through vigilance!!
This is the description of glad I enjoy reading.
buy generic zithromax for sale – order zithromax sale buy flagyl
rybelsus 14mg brand – buy rybelsus 14 mg pills brand cyproheptadine 4 mg
where to buy domperidone without a prescription – domperidone 10mg canada cost cyclobenzaprine 15mg
buy generic propranolol online – cost inderal methotrexate 10mg generic
where can i buy clavulanate – https://atbioinfo.com/ acillin pill
esomeprazole pill – nexiumtous order nexium 40mg generic
coumadin 2mg uk – https://coumamide.com/ buy cozaar generic
mobic 7.5mg canada – https://moboxsin.com/ meloxicam cost
deltasone 5mg oral – apreplson.com deltasone canada
best ed pills – fastedtotake buy ed pill
amoxicillin brand – purchase amoxil generic buy amoxicillin medication
fluconazole 200mg over the counter – click buy diflucan generic
buy cenforce 100mg online cheap – https://cenforcers.com/# buy cenforce without a prescription
cialis generic 20 mg 30 pills – tadalafil generic cialis 20mg cialis picture
cialis cheapest price – strong tadafl cialis directions
More posts like this would persuade the online elbow-room more useful. https://gnolvade.com/es/accutane-comprar-espana/
dapoxetine 60 mg sildenafil 100mg – buy in real viagra viagra cheap online no prescription
This website really has all of the information and facts I needed about this thesis and didn’t know who to ask. what is a safe dose of prednisone
More posts like this would force the blogosphere more useful. online
The reconditeness in this piece is exceptional. https://prohnrg.com/product/diltiazem-online/
This is the kind of content I take advantage of reading. cialis professional 20 mg gГ©nГ©rique
I couldn’t turn down commenting. Warmly written! https://ondactone.com/simvastatin/
This website exceedingly has all of the bumf and facts I needed adjacent to this thesis and didn’t positive who to ask.
https://doxycyclinege.com/pro/esomeprazole/
This is the gentle of literature I rightly appreciate. http://www.dbgjjs.com/home.php?mod=space&uid=531987
purchase dapagliflozin generic – order forxiga sale cheap dapagliflozin
xenical tablet – https://asacostat.com/ buy generic orlistat online