Demand is increasing for Ethereum (ETH): Altcoins may revive

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Corporate interest in Ethereum (ETH) has further increased in recent weeks with $210 million in ETF inflows.

Ethereum (ETH) is signaling that it could reach $4,000 by the end of November. Institutional investors have been intensifying their Ethereum purchases recently. Blockchain data reveals a significant increase in the number of wallet addresses holding a large amount of ETH. This indicates growing optimism about Ethereum's potential among high-net-worth investors. Analysts consider this trend as one of the most important bullish signals in the market.

Ethereum (ETH) on the rise with ETFs

Ethereum exchange-traded funds (ETFs) have signaled an uptrend with the recent net inflows. Large investors have begun to explore the potential of ETH as the ecosystem strengthens through new applications. According to reports from the past three months, investors have started to embrace ETH ETFs as an investment vehicle and expect high returns from ETH.

Ethereum's price chart is forming a wedge pattern, which increases the expectation of an upward breakout. This technical structure, commonly observed during uptrends, has caught the attention of traders and analysts. If Ethereum breaks this wedge formation to the upside, it can move towards $4000.

When we consider the rises in BTC, DOGE, and XRP, it is seen that ETH is lagging behind. Despite Bitcoin constantly renewing its all-time highs, Ethereum, which has not yet exceeded 4000 dollars, has disappointed its investors. However, the Ethereum/Bitcoin pair, which has reached the lowest level in the last three years, has started to give signals of a rise.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.

ETH-3.04%
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MingXiuPlankRoadDarkvip
· 2024-11-17 16:20
Whoever buys it is fooled
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