Ethereum’s Ether Headed to $5K as Activity, Institutional Demand Grows
“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.
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“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.
ETH surpassed the level for the first time since March.
The investment interest comes after ether added about 60% in a month.
Bitcoin regains some ground following Tuesday’s slide.
Ether teases a return to $3,500.
Traders are piling into ETH derivatives.
Bitcoin has fallen over 6% in the last 24 hours.
Indicators suggest BTC could drop to as low as $90,000.
Ether outperforms the broader market.
Ethereum has seen a surge in blob usage, averaging over 21,000 blobs this month, matching March’s record activity.
The Dencun upgrade allows Layer 2 solutions to efficiently bundle transactions and post them to Ethereum.
Blob fees spiked, leading to the burning of over 166 ETH worth $560,000 in the past week.
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