Ethereum price gives rise signals again. The breast coin collapses in the Solana ecosystem worried investors, while the demand for Ethereum began to increase. The price of ETH has increased by 1.8 %in the last 24 hours and reached $ 2,761. Analysts think Ethereum will come to the fore again with the explosion of solana breast coin balloon.
Signals are getting stronger for Ethereum rise
Crypto analyst Michael Van de Poppe said Ethereum gained strength in the web3 ecosystem. According to the analyst, investors move away from Solana’s “breast coin casino” and turn to more robust projects.
Van de Poppe said that the price of Ethereum exceeds the critical level and that this movement could be the beginning of a long -term rise trend. Stating that ETH has risen slowly but steadily, the analyst says that this movement will create more confidence in the market.
Is it starting from Solana to Ethereum?
In recent days, there have been great scandals in the Solana ecosystem. LIBRA Token fraud and insider trading allegations frightened investors. According to Van de Poppe, these events bring the end of the breast coin craze in Solana, and investors turn to more reliable assets.
Analyst thinks that Ethereum will gain strength again, just like the 2020 defi explosion. According to him, the market turns to “reality ve and will be the new focal point of investors.
Ethereum is drawn from the stock exchanges: Strong signal for ascension!
According to On-Chain data, Ethereum’s stock market reserves have declined to the lowest level since 2016. Investors tend to hide in large amounts of ETH from the stock exchanges. This supply contraction forms a strong foundation for the upward movement of the Ethereum price. Increased the amount of ETH drawn from the stock exchanges shows that investors expect higher prices in the long run. In addition, the interest of major investors and corporate firms to Ethereum is increasing. In particular, the attractiveness of the developments in Ethereum ETFs and the attractiveness of the Stinging Awards causes investors to keep the ETHs in their hands for a long time.
In addition, the expansion of updates on the Ethereum network and the spread of Layer-2 solutions makes the ecosystem become more powerful. The decreases in Ethereum’s transaction fees and the increase in scalability leads the interest of users and developers to this ecosystem. If the current trend continues, the price of Ethereum is thought to be prepared for a larger rally in the coming months.
