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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Ordinals soar on the back of Bitcoin art – Here are our top 7 picks

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    CryptoPunks and Pudgy Penguins Secure Top Positions

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  • Analysis
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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  • Home
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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  • NFT
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    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

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    NFT sales skyrocket 40% to $221m, CryptoPunks jump 590%

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    CryptoPunks and Pudgy Penguins Secure Top Positions

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    How to differentiate NFTs from memecoins

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    Pudgy Penguins denies rumors that it bought OpenSea

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    LasMeta and Pyth Network Partner to Unveil NovaDrop NFTs

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    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

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    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

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    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

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    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

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    Off the Grid Skin Sale Volume Hits $30K as the Avalanche Shooter Hits OpenSea

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    Octo Gaming Teams Up with Starknet for Exclusive Rollup-Powered Game Launch

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    Axie Infinity Creator Sky Mavis Backs New BORA-Integrated Game on LINE NEXT App

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    ETH Daddy Discusses Ethereum and AI

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

Ethereum: These 2 major factors will help shape ETH’s Q2 prices

April 22, 2024
in Altcoins
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Ethereum: These 2 major factors will help shape ETH’s Q2 prices
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  • Bullish Ethereum whales got liquidated due to highly volatile price movements.
  • Holders remained unprofitable despite rising prices.

Ethereum [ETH] has experienced massive volatility over the past week, causing traders to lose money left right and center.

Whales see red

Not only retail investors, but some whales have also been subject to liquidations over the past few days.

According to Lookonchain’s data, a whale, despite previous losses totaling $4.5 million, doubled down on its ETH position, demonstrating confidence in the asset’s potential, and ended up losing money.

The investor also made a move involving the withdrawal of 8,249 ETH from Binance [BNB], converting it to Compound [COMP], and borrowing 17.3 million Tether [USDT] from the platform to make the sizeable bet.

Source: Lookonchain

Other traders got liquidated as well. According to Coinglass’ data,  $6.28 million worth of long Ethereum positions were liquidated within a 24-hour window.

Despite these setbacks, the growing number of long positions taken towards ETH grew significantly.

This suggested a rising optimism among traders, reflecting a bullish sentiment towards Ethereum’s future prospects.

Source: Coinglass

Implied Volatility for ETH also surged in recent days, mirroring the heightened uncertainty and risk prevailing in the market.

Even though a high IV is more bearish in nature and most traders prefer to short an asset during periods of high IV, the overall sentiment towards ETH has remained positive.

Source: The Block

Looking at the data

In the last 24 hours, ETH’s price grew by 3.78%  signifying short-term bullish momentum. However, according to AMBCrypto’s analysis of Santiment’s data, the network growth around ETH declined.

See also  From Wave Maker to Industry Shaker BlastUP Redefines Crypto Investing

This indicated that new addresses were losing interest in the ETH token.

While Network Growth had declined, indicating a potential slowdown in new user adoption, the rise in velocity suggested increased trading activity and liquidity in the market.

Source: Santiment


Read Ethereum [ETH] Price Prediction 2024-2025


Despite the surge in price, the MVRV ratio for ETH remained negative at press time, signaling that Ethereum holders were yet to realize profits.

This scenario implied a continued holding pattern among Ethereum investors, potentially supporting further upward momentum for ETH’s price as holders awaited more favorable market conditions.

Source: Santiment

Next: What Bitcoin’s post-halving history tells us about BTC’s 2024 prices

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

  • Bullish Ethereum whales got liquidated due to highly volatile price movements.
  • Holders remained unprofitable despite rising prices.

Ethereum [ETH] has experienced massive volatility over the past week, causing traders to lose money left right and center.

Whales see red

Not only retail investors, but some whales have also been subject to liquidations over the past few days.

According to Lookonchain’s data, a whale, despite previous losses totaling $4.5 million, doubled down on its ETH position, demonstrating confidence in the asset’s potential, and ended up losing money.

The investor also made a move involving the withdrawal of 8,249 ETH from Binance [BNB], converting it to Compound [COMP], and borrowing 17.3 million Tether [USDT] from the platform to make the sizeable bet.

Source: Lookonchain

Other traders got liquidated as well. According to Coinglass’ data,  $6.28 million worth of long Ethereum positions were liquidated within a 24-hour window.

See also  Bitcoin Propped For Major Breakout By September, Analyst Explains Why

Despite these setbacks, the growing number of long positions taken towards ETH grew significantly.

This suggested a rising optimism among traders, reflecting a bullish sentiment towards Ethereum’s future prospects.

Source: Coinglass

Implied Volatility for ETH also surged in recent days, mirroring the heightened uncertainty and risk prevailing in the market.

Even though a high IV is more bearish in nature and most traders prefer to short an asset during periods of high IV, the overall sentiment towards ETH has remained positive.

Source: The Block

Looking at the data

In the last 24 hours, ETH’s price grew by 3.78%  signifying short-term bullish momentum. However, according to AMBCrypto’s analysis of Santiment’s data, the network growth around ETH declined.

This indicated that new addresses were losing interest in the ETH token.

While Network Growth had declined, indicating a potential slowdown in new user adoption, the rise in velocity suggested increased trading activity and liquidity in the market.

Source: Santiment


Read Ethereum [ETH] Price Prediction 2024-2025


Despite the surge in price, the MVRV ratio for ETH remained negative at press time, signaling that Ethereum holders were yet to realize profits.

This scenario implied a continued holding pattern among Ethereum investors, potentially supporting further upward momentum for ETH’s price as holders awaited more favorable market conditions.

Source: Santiment

Next: What Bitcoin’s post-halving history tells us about BTC’s 2024 prices
Tags: EthereumETHsfactorsMajorPricesShape

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