Ethereum (ETH) active deposit addresses have recently hit an 8-month high, according to blockchain intelligence firm Santiment. This accomplishment could cause a notable spike in DEF's volatility - similar to when Merge and FTX collapsed.

At the present time, data from CoinMarketCap show that ETH has seen a 24-hour drop and is currently trading for $1,900.06. Additionally, trading volume has decreased approximately 21%, amounting to roughly $6.77 billion.

Nevertheless, ETH is moving toward the resistance of $1,900 and the daily RSI is pointing to a potential uptrend. If the altcoin manages to close above the $1,900 value, ETH could reach the target of $2,030 in the upcoming days. Likewise, if ETH fails, the price could drop to $1,790.

These changes illustrate the highly varied nature of cryptocurrency markets and the importance of understanding market forces. Investors are encouraged to assess their individual risk tolerances prior to participating in these dynamic markets. Additionally, speculators must keep in mind the highly volatile nature of cryptocurrencies and be aware that sudden price changes can negatively impact their portfolios.

Meanwhile, it is necessary to remember that Santiment only suggested a volatility increase based on ETH's 8-month high active deposit address. However, past performance by no means guarantees future performance, so investors should keep up-to-date with the latest developments and take their own precautionary measures accordingly.



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