CandleFocus Here’s how Ethereum is getting ready for the $4k mark
2024-12-05
Author: Content Editor
Ethereum has shown positive signs recently, with a 4% increase in the past 24 hours and reaching a six-month high of $3,900. It is currently 21% away from its all-time high. Factors driving Ethereum's upward movement include increased inflows into spot Ethereum ETFs and a net outflow from exchanges, suggesting investors are accumulating the asset. Whale transactions have reached $73 billion in the last week, indicating growing FOMO among retail investors. Additionally, Ethereum's decentralized finance sector is thriving, with a total value locked of $72.9 billion. The Relative Strength Index suggests Ethereum is in a maturing accumulation phase.
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