Ethereum’s Ether Headed to $5K as Activity, Institutional Demand Grows

Quick Summary:

"According to ETH’s realized price—the average price at which holders purchased their ETH—the current upper limit for ETH’s price stands around $5.2k,” CryptoQuant said.

Ether largely underperformed bitcoin and other major tokens since 2022 but saw a return in bullish sentiment after Donald Trump won the U.S.presidential elections in November, rekindling hopes for a DeFi bull run among investors.

There's been an increase in revenue, transaction fees, new wallet creations, and on-chain volume, all indicating heightened activity when compared to the quieter months from May to September, as a CoinDesk analysis previously noted.

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Article Details

Author / Journalist: Shaurya Malwa

Category: Crypto

Markets: United StatesCuba

Topics: Markets ETH Analysis Ether

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 13:26:15 (4 days ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 544 words

Reading Time: 4 minutes read

Sentences: 34 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 24425246

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