CoinMarketCap: Read what our contributors have to say. This content is provided by the community. DYOR!
Ethereum Surges Past $4,000 and Attracts Significant Market Attention
Table of Contents
Market Musing-g

Ethereum Surges Past $4,000 and Attracts Significant Market Attention

COINTURK NEWS
By COINTURK NEWS
24 days ago
2 mins read
Ethereum Surges Past $4,000 and Attracts Significant Market Attention
You can also read this news on COINTURK NEWS: Ethereum Surges Past $4,000 and Attracts Significant Market Attention
Ethereum’s brief surge above the critical $4,000 mark has sparked notable activity in the markets. According to a recent report published by the global cryptocurrency exchange Bybit, Ethereum’s derivatives market is witnessing strong interest, and the leading altcoin could reach a new record high in the first quarter of 2025.

Increasing Activity in Ethereum Derivatives Market

Bybit representatives indicated that Ethereum has gained noticeable momentum in its derivatives market. Following the “deleveraging” process that occurred in mid-November, Ethereum’s derivative positions have revived. This recovery suggests a growing confidence in the markets.

A Bybit representative remarked, “Ethereum has seen a significant increase in volume in the derivatives market recently. It is likely that the token price will hit a new peak in the first quarter of 2025.” Analysts emphasize that Ethereum could reach a competitive level against Bitcoin .

Significant Increase in Ethereum Network Activity

The Ethereum network has experienced notable revitalization in recent months. In December, an average of 130,000 new addresses were created daily on the network, representing the highest level in the past eight months. Analysts suggest this trend has rekindled interest in Ethereum.

According to Bybit’s report, increased network activity and high demand are among the most critical factors supporting Ethereum’s market performance. The report states, “The permanence of Ethereum at these levels supports the increase in new address creation. It may positively influence long-term price movements.”

Ethereum’s market movements seem likely to remain on the radar of both individual and institutional players in the new year. The aspects where it gains an advantage against Bitcoin emerge as key elements supporting Ethereum’s potential future success.

As expectations for Ethereum’s future remain positive, the increase in derivatives market volume and network activity provides significant clues for long-term projections.

0 likes
|

Other articles published on Dec 16, 2024

Market Musing-g

Amazon Faces Decision on Bitcoin Investment After NCPPR Proposal

The think tank suggests that Amazon's $88 billion in cash and short-term equivalents is vulnerable to inflation, advocating Bitcoin as a hedge against this risk.
By BSCN
24 days ago
3 mins read
Market Musing-g

BREAKING: Date Has Been Set In A Major Development For Ripple

According to the latest development, Ripple USD (RLUSD) will be available on global exchanges starting December 17. “Each RLUSD token is fully backed by US dollar deposits, US government securities...
By Bitcoin Sistemi EN
24 days ago
2 mins read
Market Musing-g

South Korea's Largest Cryptocurrency Exchange Upbit Announces Listing of a New Altcoin!

South Korea's largest cryptocurrency exchange Upbit has announced plans to list Valve (VANA) on its platform. Continue Reading: South Korea's Largest Cryptocurrency Exchange Upbit Announces Listing...
By Bitcoin Sistemi EN
24 days ago
2 mins read
Market Musing-g

Binance Labs' New Investment: What is Perena?

With support from Binance Labs, Perena aims to build a robust stablecoin ecosystem on Solana, contributing to mainstream adoption and bridging traditional finance with DeFi.
By BSCN
24 days ago
3 mins read
Market Musing-g

Trump-Backed Crypto Project Spends $45M on Crypto Investments: Report

In December, WLFI spent $44.75 million on various tokens, including $30 million worth of Ether (ETH).
By BSCN
24 days ago
2 mins read
Market Musing-g

BREAKING: Coinbase Announces New Altcoin Listing During Massive Bull Rally

Cryptocurrency exchange Coinbase announced that it will list Parcl (PRCL) in its statement. According to the official statement made by Coinbase, the PRCL token will be supported on the Solana netw...
By Bitcoin Sistemi EN
24 days ago
1 min read

Join the thousands already learning crypto!

Join our free newsletter for daily crypto updates!