Ethereum on Cusp of Breaking Out As Traders Rotate Memecoin Profits Into ETH, Says Analytics Firm
EthereumăăEthereum on Cusp of Breaking Out As Traders Rotate Memecoin Profits Into ETH, Says Analytics Firmăă2 minuto ang nakalipasăăBalita ng Ethereum ng BitcoinăăA leading analytics firm says that Ethereum (ETH) is flashing a bullish on-chain signal as traders pile into the leading smart contract platform.ăăSantiment says that Ethereum is witnessing a strong surge in active deposits, a metric that tracks the number of unique deposit addresses on an exchange that have been active on a particular day.ăăAccording to Santiment, Ethereum has hit 20,000 active deposits for the first time since November 2021 as traders rotate their profits from red-hot memecoin Pepe (PEPE) to ETH.ăăPepe, a frog-themed memecoin, is up an eye-popping 4,543% from its all-time low of $0.00000005, which it hit less than three weeks ago.ăăSa oras ng pagsulat, ang Ethereum ay nakikipagkalakalan para sa $1,928.ăăLooking at the broader crypto markets, Santiment says that digital assets are starting to show signs of decoupling from the stock market. According to Santiment, crypto has remained relatively firm following the Feds latest interest hike.