Main to remember
Ethereum broke out more than $ 4,000 while whale wallets accumulated $ 667 million in the main over -the -counter offices. Chain data also shows that ETH’s offer exceeded 121 million.
Ethereum’s offer (ETH) has exceeded 121 million Eth, but the biggest story is perhaps the one you do not see.
Six fresh portfolios have raised $ 667 million in the main scholarships – just as prices exceeded $ 4,000 and that the in their open sellers have faced their biggest erasure in months.
What is happening with King Altcoin?
ETH exceeds $ 4,000 while bulls crush shorts
Ethereum has exceeded $ 4,000 today, triggering its greatest short liquidation for months – a decision that Eric Trump celebrated on X, warning against betting against BTC and ETH.
Source: X
The daily graphic has shown a strong bullish dynamic, with ethn closing at $ 4,196, at the time of the press. RSI rose above 72, a sign of excessive conditions.
Source: tradingView
At the time of writing the time of the editorial staff, the MacD histogram was widening, indicating sustained purchase pressure.
The feeling of the market has become decisively optimistic, driven by consecutive green candles and an increased accumulation of whales.
However, merchants should remain cautious about potential withdrawals if taking advantage starts at these higher price levels.
ETH’s offer reaches $ 121 million
The supply of Ethereum has officially crossed the 121 million mark, a step has taken almost three years after reaching 120 million in August 2022, according to cryptocurrency.
Source: cryptocurrency
The network is currently hitting between 2,500 and 3,000 ETH per day, but the implementation activity continues to compensate for part of this issue, with more than 36.18 million ETH locked.
Source: cryptocurrency
The withdrawals of intention influence the profile of the inflation of the ETH by softening the effects of the increase in circulation.
Although the recent increase in supply questions the deflationary story, the overall demand for networks and the participation of jealking remain key factors to determine whether this expansion will support or weigh the price of the ETH.
