Ethereum’s wallet growth hits ATH – This can help ETH jump 13.8%
Amid the ongoing market recovery, Ethereum is experiencing a surge in network activity, with new wallet creations reaching an all-time high of 393.6K on January 11th, averaging 327.1K per day over the past week. This growth signals increased user adoption and long-term investor confidence. Additionally, Bitmine staked 186,560 ETH, worth $607.27 million, in the past 24 hours, bringing its total staked holdings to 1.53 million ETH. This reduces circulating supply and reinforces a bullish outlook. ETH's price rose 6.50% to $3,330, with trading volume surging 90% to $34.18 billion. Technical analysis indicates that if ETH breaks the key resistance level of $3,340, it could rally another 13.80% to $3,800. However, failure to sustain above $3,340 may lead to a pullback. Short-term momentum is bullish, but the trend strength remains weak. Derivative data shows traders strongly favor long positions, with key liquidation levels at $3,296.3 and $3,362.8.
ambcrypto01/14 17:01
