Review of 5 Key Ethereum Metrics to Monitor Amid Predictions of ETH Price Surge
Analysis from IntoTheBlock suggests that Ethereum may be the next cryptocurrency to experience a significant influx of capital, despite its recent struggles compared to Bitcoin. While Bitcoin continues to reach new all-time highs, Ethereum has only seen a modest increase in price. However, historical data indicates that investors often move profits from Bitcoin into Ethereum, potentially leading to a bullish period for the altcoin.
On-chain activities point to Ethereum whales anticipating this shift in capital. While some key indicators have not yet turned bullish, metrics such as daily transactions, transaction volumes, and whale accumulation show positive trends. With a rise in average daily transactions on the Ethereum network, IntoTheBlock predicts that an Ethereum surge could be imminent if Bitcoin stabilizes at its current high.
The analysis also highlights five key metrics to watch for potential indications of Ethereum’s next move. These metrics include daily transactions, large holders’ behavior, short-term holders’ activity, holding time of transacted coins, and exchange flows. As Ethereum currently trades at $3,351 with a 7.32% increase in the past 24 hours, investors will be keeping a close eye on these indicators to determine the altcoin’s future trajectory.
