Santiment, a leading cryptocurrency analytics platform, has unveiled a notable surge in Ethereum’s market value, marking a staggering 38% increase within a mere four-week span. This impressive spike has been predominantly attributed to the robust growth of the Ethereum network.
Of particular note is the exponential rise in the number of micro addresses, holding less than 0.1 ETH, which has recently breached the milestone of over 100,000 wallets for the first time. This surge in smaller addresses is indicative of increased participation and interest from a broader base of users within the Ethereum ecosystem.
Moreover, Santiment also highlights a positive upturn in the 0.1 to 10 ETH and 10,000+ ETH tiers, signifying a more widespread and substantial involvement of investors across different scales. This rise in various tiers within the Ethereum network hints at growing confidence and engagement among both small-scale and larger investors.
Ethereum Latest Price Pump
As per the latest price analysis, ETH has surged by an impressive 10% in the daily chart, breaking through the significant $2,000 barrier. This surge marks its highest price level achieved in the past six months, signaling a substantial bullish trend in Ethereum’s valuation.
The notable spike in ETH’s price was reportedly triggered by news regarding BlackRock, the world’s largest asset manager, registering the iShares Ethereum Trust in Delaware. A filing on the Delaware Department of State Division of Corporations website reveals that BlackRock Advisors submitted paperwork for an iShares Ethereum Trust entity.
At the time of reporting, data from CoinMarketCap indicates that ETH is trading at $2,122.74 with a 24-hour trading volume amounting to $25 billion, marking an impressive 196% rise. Within the last 24 hours, ETH has experienced a remarkable 10.10% increase and a substantial 17.28% surge over the past seven days.
Technical analysis indicators show a predominantly bullish sentiment, with the current market sentiment also leaning towards a bullish outlook. Moreover, the prevailing ETH price prediction sentiment remains bullish, with 27 technical analysis indicators signaling bullish trends, while 6 indicators indicate bearish signals.
Related Reading | Taiwan’s JPEX Saga: 2 Arrests, Pop-Star Under Scrutiny