CryptoQuant analysts: Ethereum price could reach above $5,000
According to the weekly report of the analytical platform CryptoQuant, the Ethereum network is witnessing renewed demand growth and increased activity.
The indicators of this analytical company show that if the dynamics of supply and demand continue, the price of the second largest digital currency in the market will reach above $5,000. Currently, the price of Ethereum is $3,900.
Ethereum exchange-traded fund (ETF) holdings hit a new record high of 3.41 million coins, indicating investor confidence, according to CryptoQuant analysts. Also, the dynamics of the supply sector are also positive and the amount of ether burning has increased from 80 units at the end of August to 2,700 units now.
Also, network activity has increased and daily transactions have reached 6.5 to 7.5 million. Analysts believe that more network activity leads to more ether burning and a positive effect on the price. 4 replies
0 recast
5 reactions
0 reply
0 recast
0 reaction
