The world’s second-largest cryptocurrency Ethereum (ETH) is showing strength today registering another 5.5% gains. At press time, the ETH price has crossed $2728 with its market cap at $314 billion. This comes as several on-chain metrics continue to improve for Ethereum with ETH now eyeing a move to $3000 levels.
As on-chain data provider Santiment reports, the ETH active addresses are once again on the rise. This means that the investor activity on the platform is increasing once again. The rebound happens after last week’s panic selloff.
Courtesy: Santiment
On the other hand, the daily active deposits of Ethereum (ETH) at exchanges are once again on a decline. Although the number is relatively higher compared to the last six months, the declining ETH supply is a bullish indicator.
However, there’s one indicator that suggests caution at this point. The 36-day MVRV ratio (market-value/realized-value) hasn’t dipped to the negative. The Santiment report states:
36-day MVRV haven
Źródło: https://coingape.com/ethereum-eth-shoots-another-5-5-today-several-chain-metrics-improve/
