Market expert Miles Deutscher has identified several key trends and developments in the cryptocurrency market, particularly focusing on the Ethereum (ETH) rally and its implications for Layer-2 (L2) decentralized finance (DeFi) altcoins.
Deutscher highlights that ETH’s recent surge to a 22-month high of $3,130 has sparked increased interest in L2/DeFi altcoins, presenting potential opportunities for investors.
Ethereum Price Strength Continues
In a recent post on social media X (formerly Twitter), Deutscher notes that Ethereum continues to show strength, especially compared to Bitcoin (BTC), which remains in a key consolidation phase at $51,100. Holding above the significant psychological level of $3,000, ETH’s bullish momentum is further fueled by reports of Justin Sun, the founder of TRON, purchasing over $500 million worth of ETH in recent days.
Deutscher remains optimistic about ETH and ETH-betas leading up to the proposed exchange-traded fund (ETF) dates in Ma
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