ETHER (ETH) prices recovered $ 2,000 on March 24, but were 18% lower than 18% lower than $ 2,500 before three weeks ago. According to the data, Ether has shown that the Altcoin market is 14% low in the last 30 days, and traders have questioned whether Altcoin can restore strength exercise and which factors can cause trend reversal.
ETHER/USD (left) total uppercase letter, USD (right). Source: TradingView / COINTELEGRAPH
Ether seems to be well -equipped to significantly reduce the FUD that attracts institutional demand and limits upward potential. Critics have long longer behind the Etherum ecosystem than competitors in overall user experience and still provide the basic class expansion, which has had a negative impact on network costs and transaction efficiency.
Is Ether Lee PECTRA affecting ETH price?
In the upgrade of the upgraded PECTRA Network in late April or early June, many Etherrium networks are expected to be resolved. Among the proposed changes, the data that can be included in each block doubles, which helps to lower fees for rollups and personal information protection mechanisms. In addition, the cost of currency increases, encouraging developers to adopt a blove. This is a more efficient way for data storage.
Another notable improvement of upgrade upgrades is the introduction of a smart account, which can work like a smart contract during transactions. This allows you to sponsor gas fees, pass key authentication and batch transactions. In addition, some other improvements focus on optimizing staying deposits and withdrawal, increasing flexibility, and expanding block records for smart contracts that depend on past data.
Arthur Hayes, a co -founder of Bitmex, said on March 25 that it should surpass the rival Solana (SOL) by setting up ETH’s $ 5,000 price goal.
source: Crypto High
Regardless of the theoretical basis for the price prediction of Arthur, ETH optional traders do not share the same strong feelings. The September 26 call (purchase) option is a very low probability of $ 35.40. However, Ether Leeum remains a definite leader in smart contract deposits, and is the only replacement in the United States with the Spot Exchange-Traded Fund (ETF) and currently has an asset of $ 8.9 billion.
Ether Leeum tvL growth and reduced ETH supply of exchanges
Ether Lee’s network boasts a total of $ 52.5 billion in total value lock (tvL) and surpasses Solana’s $ 7 billion. More importantly, the deposits of Ether Leeum Network have increased by 10% over the last 30 days, reaching 25.4 million ETH, and Solana has decreased by 8% over the same period. The main event in Ether Lee is SKY (previous manufacturers), which increased by 17%, and TVL surged 38% over 30 days.
Ether balance of exchange, eth. Source: Glass Node
According to the GlassNode data, the Ether Supply of the exchange reached 16.9 million ETH on March 25, which was only 3.5%of the five -year lows of 1333 million ETH. This trend suggests that investors withdraw from the exchange to announce long -term capital promises. Similarly, the flow of the Spot ether ETF has been maintained relatively muted, unlike the net outflow of $ 336 million since March 24 and March 25.
relevant: Ether Leeum developer prepares the final PECTRA test before the Mainnet launch.
Finally, Ether Leeum Network is gaining momentum in the Real World Asset (RWA) industry, especially after the Blackrock Build Fund has exceeded $ 1.5 billion in capitalization. According to RWA.XYZ data, the Etherum ecosystem, including the hierarchy -2 extension solution, accounts for more than 80% of the market that emphasizes Ethereum’s dominance in the decentralized financial (Defi) space.
On March 10, the price drop of Ader decreased to less than $ 1,900, which would have reflected the expectation of too weak. But as the Ether Leeum network showed elasticity, the assistant changed, and the traders continued to withdraw from the exchange and set the potential rally to $ 2,500.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.