Ethereum's price has reclaimed $3,800 after dipping to $3,700 recently. Analysts highlight strong data indicators suggesting that ETH could surge to new all-time highs. Open interest in Ether futures has reached a record high of $58 billion, more than doubling since June. This surge reflects increased participation in the market and signifies strong demand as capital shifts from Bitcoin to Ethereum. Network activity is robust, with a 7.2% increase in active addresses and a 16% rise in monthly transaction counts. The stablecoin supply has also hit an all-time high of $132.5 billion, indicating heightened liquidity. Analysts predict that breaking the $4,000 resistance level is crucial for ETH's potential rally, with expectations that consolidation below this level could lead to a more sustainable upward movement. Experts assert Ethereum is poised for a significant breakout as momentum builds.

Source 🔗