Ethereum

<ul><li>ETH in smart contracts nears 40%, signaling the potential for explosive price growth.</li><li>BlockTower Capital sold 9,232 ETH, but Ethereum&#39;s price shows strong resilience and bullish momentum.</li><li>ETH’s RSI at 42.77 and MACD below signal line suggest the potential for oversold conditions and price correction.</li></ul>In an X post shared by Leon Waidmann, Head of Research at Onchain Foundation, he revealed that the <a href="https://cryptotale.org/bitcoin-and-ethereum-plunge-the-time-to-buy-the-dip/" rel="noopener noreferrer nofollow">Ethereum </a>ecosystem is reaching a critical juncture; the amount of ETH held in smart contracts is nearing 40%. This milestone underscores the increasing scarcity of ETH, which remains underappreciated by the broader market.The growing presence of ETH in smart contracts signals a significant shift in market dynamics. If demand for ETH rises even slightly, its price could experience explosive growth.As per Lookonchain data, BlockTower Capital executed a substantial sale of 9,232 ETH, valued at approximately $24.8 million. This sale was processed through prominent trading platforms such as FalconX, Cumberland, Wintermute, and B2C2Group.Despite this significant sale, <a href="https://cryptotale.org/ethereums-demand-zone-retest-signals-bullish-breakout-ahead/" rel="noopener noreferrer nofollow">Ethereum&#39;s</a> price has shown resilience. As at press time, ETH is trading at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">$2,641.89</a>, marking a 3.52% increase over the last 24 hours. This upward movement indicates bullish, solid momentum. The price chart for ETH reveals a robust recovery from a recent dip. After falling to $2,553, ETH quickly rebounded, surpassing $2,750 before a minor retracement. Key levels in this chart are crucial for understanding market behaviour.<a href="https://cryptotale.org/ethereum-in-smart-contracts-nears-40-amid-blocktower-capitals-9232-eth-sale/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum in Smart Contracts Nears 40% Amid BlockTower Capital’s 9,232 ETH Sale

CryptoTale

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