The second-largest cryptocurrency, Ethereum (ETH), is going through a period of neutrality in its market activity. Ethereum's netflow on Binance has reached a balanced state with deposits and withdrawals stabilizing, indicating an accumulation phase where investors are awaiting a catalyst before making significant transactions. Additionally, Ethereum's Open Interest on Binance is approaching an all-time high, suggesting increased market activity and potentially signaling a significant market shift. In the past 24 hours, Ethereum has surged by 5%, leading to a higher market cap of $394 billion. Analysts speculate that the long-awaited alt season may be on the horizon, leading to further bullish momentum for Ethereum and other altcoins.



Other News from Today