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Ethereum's Active Deposits and Trading Signals Highlight Market Trends.

1 min read
Source: BeInCrypto
Ethereum's Active Deposits and Trading Signals Highlight Market Trends.
Photo: BeInCrypto
TL;DR

Active deposits on the Ethereum network have surged to an 18-month high, with over 20,000 deposits, possibly due to PEPE token traders looking to cash out their profits from the meme coin. The surge in activity has also led to a rise in gas fees, with knock-on consequences across the ecosystem. Spikes in active Ethereum deposits often foreshadow volatility in the price of ETH, and the recent decision by the Ethereum Foundation to transfer 15,000 ETH to a Kraken deposit address could pre-empt a drop in the price of ETH.

Topics:businesscryptocurrency#active-deposits#cryptocurrency#ethereum#gas-fees#pepe#price-volatility
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  1. Active Ethereum Deposits Hit 18-Month High  BeInCrypto
  2. Ethereum on Cusp of Breaking Out As Traders Rotate Memecoin Profits Into ETH, Says Analytics Firm  The Daily Hodl
  3. Ethereum Price Just Signaled “Sell” And It’s Vulnerable to More Losses  NewsBTC
  4. Pepecoin Drops Nearly 50% From Highs as Traders Likely Taking Profits for Ether  CoinDesk
  5. Ethereum Staking Deposits Gain Ground as Withdrawals Flatlines  BeInCrypto

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