Ethereum Prices Surge 37.14% to $2,600 After Network Upgrade
Ethereum prices increased by 37.14% over the past week, reaching a peak of $2,600. This surge is largely due to the recent Petra network upgrade, which enhances ETH's burn rate and market scarcity.
Ethereum Above Realized Price
The realized price indicates average acquisition costs for circulating tokens. Trading above this price suggests bullish sentiment, while trading below indicates bearish conditions. Currently, Ethereum trades above its realized price of $1,900, reflecting profitability for long-term holders.
- ETH shows a bullish signal as long-term holders gain profits.
- Recent outflows from Binance indicate increased trader confidence.
- The price rise suggests the market can absorb profit-taking without losing momentum.
Binance Leads in ETH Liquidity
Binance remains the most active platform for ETH trading, with substantial outflows indicating high market activity during price increases. Analysts predict Binance will continue to dominate as traders prefer liquid exchanges for managing positions.
- Current ETH price: $2,525, up 5.88% in the last day.
- Trading volume down 18.44% at $33.79 billion.
- Next resistance level at $2,600; potential upswing to $2,800 if surpassed.
