#ETH is strong, which is a good thing 👍. We all hope it will outperform #BTC in the near future to lead #Altcoins 🚀
And indeed, this has been happening after so many disappointments with ETH 🤦. Will this time be different??
👉 The likelihood is very high that it will be different, as ETH is being aggressively bought by major institutions 💪
However, for now, ETH is attracting dominance and capital flow 💵, making it a bit harder for #altcoins to breathe.
But, PATIENCE WILL BE THE KEY 🔑 TO SUCCESS IN THIS HIGHLY MANIPULATIVE MARKET LIKE #CRYPTO.
GM AE ✌️
$ETH is approaching the 3.5K mark - But do you think this price is not worthy?
At worst, it will be 5K in this Q3.
Before the increase, $ETH had created a truly solid internal foundation, serving as a launchpad to push the price up.
1) The amount of $ETH being staked has just reached an all-time high:
→ 29% of the $ETH supply is locked. This number is significant. A limited circulating supply of $ETH means that any large buy demand can quickly push the price up.
2) Hedge funds are shorting $ETH at a record high:
→ People are still shorting ETH because they think it will perform poorly like before. But don't forget, even a worm will turn when pushed too hard; when everyone agrees on something, the house will surprise everyone.
- I remember very clearly when $BTC was around 55K, the number of shorts was similarly high.
3) Stablecoins on $ETH have reached an all-time high.
→ There is a ton of dry powder waiting. All it needs is a spark. Activate the dominance of the queen that we have been waiting for too long.
#eth #btc #coinank
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