Ethereum trends look like a game changer. The price of ETH keeps going up and the main question with the rounds is how far it would go up. And if it were to be reversed, what should we watch out for?
You, Tuber Sheldon Evans, have analyzed intensively: Is the case for a $ 10,000 ETH a valid one? Is Binance’s smart chain still a threat to Ethereum? The Ethereum community really believes that ETH is the best that comes out of the mud and that once it’s out there is no stopping it.
Breaking the $ 2,500 level may hold the promise of strong growth to around $ 3,000. The $ 3,000 is a psychological level. These are levels where people want to take profit and get out of position, so we can expect some resistance if the price goes above that. It can be seen very clearly that the price was very close to $ 2,950, which is very close to $ 3,000, and there was a little bit of rejection. However, should that price level recover, there will be a sharp move to the $ 3,270 level.
There are several factors that fuel this growth. There was a tweet from Spencer Moon pointing out: 10 signs ETH is well on its way back to $ 10,000.
“Ethereum dwarfs any blockchain in terms of the fees paid, with a current execution rate of almost 7 billion US dollars – which confirms the massive demand for ETH block space.
Ethereum is offsetting a value of $ 30.5 billion per day, far more than Bitcoin and any other blockchain. To put this into context, PayPal pays off about $ 2.5 billion a day.
Ethereum has 625,000 active addresses per day (90 day MA) – a number that continues to rise and is now comfortably seated at ATHs.
$ 65 billion is now locked in DeFi. 16 different projects have more than $ 1 billion TVL – a sign that Ethereum is an institutional grade financial technology.
Ethereum has an excellent supply of stable coins worth USD 50 billion, with 500,000 unique senders exchanged daily and a value of USD 20 billion per day – a sign of explosive market maturity.
The monthly #DEX volume is over $ 60 billion, an increase of ~ 60x year over year. This shows that #Defi liquidity is already competing with #CeFi.
There are now more than 200,000 BTC ($ 11.2 billion) in various forms on Ethereum – a sign that ETH is becoming an economic vacuum for all assets, including Bitcoin.
Sales of NFTs on Ethereum have now exceeded ~ $ 600 million, with 13 units sold for over $ 1 million each – a sign that new categories of applications are emerging at ETH as well.
Ox Polygon currently makes ~ 1 million daily broadcasts and has taken on numerous DeFi blue-chip projects, including AaveAave with> $ 2 billion in liquidity – belittling the “Ethereum can’t scale” narrative.
Finally, in less than 3 months (!) The EIP-1559 upgrade will be activated, which will likely result in hundreds of millions of ETH being burned every year – this is a massive catalyst for ETH value creation and its basic investment case . ”