CryptoQuant: Average Ether Resale Price Soars, May Top $5,000
On 12 December, CryptoQuant analysts said that based on valuation metrics, Ether could break $5,000 if the current supply and demand dynamics continue, TheBlock reported.
CryptoQuant analysts highlighted Ether's realised price band as a key metric in their assessment. The realised price represents the average price at which Ether changes hands. The current realized price band is capped at $5,200. As new buyers purchase Ether at higher prices, the upper limit of this price band will continue to rise, signalling further upside potential in the current market cycle.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Bank of Japan's interest rate hike still fails to impress the market! Hedge funds slash yen long positions by nearly 80%, while dollar long positions increase significantly
After the Bank of Japan failed to deliver a clear enough signal of further interest rate hikes to the market, hedge funds have significantly reduced their bullish bets on the yen.
US Treasury yields continue to rise! Cleveland Federal Reserve President: Government and AI compete for funds, fueling rate hike expectations
Cleveland Federal Reserve President Loretta Mester stated on Friday that the recent sustained rise in long-term U.S. Treasury yields is the result of multiple factors working together.
Crypto prices
More
