Ethereum’s Wild Ride: Will It Soar or Sink? Find Out Now!

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As the altcoin circus tries to imitate the Bitcoin show, we find ourselves staring at the price of Bitcoin, which is currently doing its best impression of a rollercoaster ride at a theme park. 🎢

BTC: $99,087
24h volatility: 1.2%
Market cap: $1.97 T
Vol. 24h: $33.49 B

Meanwhile, Ethereum is attempting to shake off its existential crisis, currently priced at ETH: $2,823. It’s like that friend who insists they’re fine while clearly sobbing into their coffee. ☕

24h volatility: 2.1%
Market cap: $340.81 B
Vol. 24h: $17.61 B

In the past few days, Ethereum has gained a whopping 2%—which, let’s be honest, is like finding a quarter in your couch cushions. But hey, it’s something! On February 21, during the early New York session, it was trading around $2,811. Not exactly a new yacht, but we’re getting there.

Optimism is creeping back into the crypto market like a cat burglar in the night, thanks to the Donald Trump administration’s attempts to clarify web3 regulations. And guess what? Ethereum’s fear and greed index has jumped from a pitiful 42% to a more respectable 50%. It’s like going from a D- to a C in crypto school! 🎓

Midterm Expectations for Ethereum Price

From a technical analysis standpoint, Ether’s price is on the verge of a major bull rally. If it can just muster the courage to close above the resistance level of about $2,843, we might see it break through the $3K ceiling. But if it retraces below $2,554, well, let’s just say it’ll be a bloodbath. 🩸

Renewed Interest from Investors

According to market data from IntoTheBlock, the Ethereum network saw a $35 billion surge in transactions over $100K last week. On February 16, there were 3,711 transactions worth more than $100K. By Friday, that number jumped to 5,174. It’s like a high-stakes poker game, and the whales are back at the table! 🐋

New addresses are popping up like mushrooms after a rainstorm, with a 12.10% increase reported over the past week. CoinGlass tells us that over 430K Ether units have been withdrawn from centralized exchanges in the last 30 days. It’s like everyone’s trying to hide their cash under the mattress! 🛏️

The number of new addresses on the #Ethereum $ETH network continues to climb, making a series of higher highs with a 12.10% increase over the past week.

— Ali (@ali_charts) February 20, 2025

Meanwhile, the demand for spot Ether ETFs in the U.S. is about as exciting as watching paint dry, with a total net outflow of about $13 million recorded on Thursday. Not a single issuer managed to register a net cash inflow. Ouch! 😬

Fundamental Outlook

The Ethereum network is navigating the choppy waters of rising competition in the web3 space, all while dealing with leadership challenges at the Ethereum Foundation and the upcoming Pectra upgrade. Despite the fierce competition from other layer one chains like Solana (SOL), Ethereum remains the reigning champion in DeFi, Dapps, NFTs, and real-world asset tokenization. 🏆

As of now, the Ethereum network boasts over $58 billion in total value locked (TVL) and a stablecoins market cap of around $122 billion. In the past 24 hours, there were around 464K active addresses. And in the last week, Ethereum saw the highest amount of cash transferred from other chains, led by Solana and BNB Chain. It’s a wild world out there!

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2025-02-21 17:33