Ethereum (ETH) looks set to see significant price volatility this month. data According to Santiment, Ethereum has more than Global adoption grew 3.3% In three months, about 4 million new addresses were added, and the number of ETH holders reached 127 million.
📈 Ethereum continues to pull away from Bitcoin in terms of wallet growth:
🪙 Bitcoin: Total holders 54.18 million (down 0.1% in 3 months)
🪙 Ethereum: Total holders are 126.96 million (up 3.3% in 3 months)
🪙 Tether: 5.99 million total holders (up 4.0% in 3 months) pic.twitter.com/C1QSrcRIO1— Santiment (@santimentfeed) September 3, 2024
Considering this important milestone, speculation is growing as to whether the asset can reach $2,500 or even higher. Ethereum (ETH) hovers around $2,300.
According to CoinMarketcapETH is up about 5.37% in 30 days, reflecting its resilience throughout August.
However, considering the optimism and growing adoption of ETH, this new month could bring new records for the coin. Can it break $2,500 soon? Keep reading to find out more!
Ethereum Tops Santiment Adoption Rankings: What This Means for ETH
Ethereum becomes the latest leading cryptocurrency to be launched by Santiment Adoption rankingshowing its User base over the past few months.
The upward trend highlights Ethereum’s growing influence in the cryptocurrency market and could influence its future trajectory. The asset has been outperforming other Major cryptocurrencies adopted.
While Bitcoin is experiencing stagnation, Ethereum’s growth is accelerating, with the number of holders increasing significantly.
According to Santiment Recent DataEthereum adoption has surged 3.3% over the past three months. This means that 4 million new addresses have been created on the Ethereum blockchain, bringing the total number of Ethereum addresses to The number of ETH holders is approximately 127 million.
In contrast, the number of Bitcoin holders has remained relatively flat, decreasing slightly by 50,000 addresses over the same period. Total 54.18 million shareholders.
Tether’s growth has also been significant. The number of cardholders increased by 4.0% to 5.99 millionThe stark contrast highlights Ethereum’s growing appeal to investors and users.
The continued increase in Ethereum holders is seen as positive for ETH’s future. However, analysts Caution about the sustainability of this growthDespite these positive signs, the inherent volatility of cryptocurrency markets also poses risks.
Ethereum Price Prediction: ETH hovers above dynamic Bollinger Band support – can it hold?
In the above chart, Ethereum (ETH) has touched the lower Bollinger Band, which is its dynamic support level of $2,326.
Considering the impact of financial market support levels, ETH price may break through The middle track of the Bollinger Bands is the fulcrumIf this happens, the upper Bollinger Bands Resistance is at $2795 It may become its new target.
On the other hand, the coin’s relative strength index (RSI) indicator is declining, suggesting current bearish pressure and increased sell orders. Therefore, the support level could easily see a second bounce before the price surges.
Ethereum Horizontal Support and Resistance Levels – Which One Will Hold?
The chart above shows Ethereum’s horizontal support and resistance levels on the daily timeframe. Considering the token’s price was $2,407 at 9:22 a.m. ET, ETH could hover between $2,350 and $2,450 throughout the day.
Moving average convergence divergence (MACD) indicator It has been flattened with tiny red histogram bars.
Meanwhile, since ETH has rebounded from the recent support at $2,310, the next price target could be the resistance at $2,597. A breakout would allow The next resistance is at $2,820 and the next target is at.
Regardless of the possibility of ETH skyrocketing, it is recommended that you adopt a reliable trading strategy and take appropriate risk management measures for a safer trading experience.
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New Meme Coin with Multi-Proof-of-Stake Capabilities, Crypto All-Stars — Hype or Legit?
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The technology behind MemeVault Based on the ERC-1155 standardensuring it can handle multiple token types while maintaining strong security.
STARS pre-sale closes at $1 million, auction exceeds $979,000
The Crypto All-Stars (STARS) presale is expected to be one of the largest presales in 2024, attracting the attention of meme coin enthusiasts.
This new meme coin offers impressive staking rewards, even for traditionally non-stakeable tokens. Raised nearly $1 million So far, Crypto All-Stars may be the project that breathes new life into the memecoin space.
Each STARS token is trading at $0.0014248 and will soon rise. So now might be the best time to buy. One of the exciting aspects of this presale is that you can start earning rewards immediately by staking your newly acquired STARS tokens, even before the presale ends.
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Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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