Insights Analysis Ethereum Fundamentals are Solid – Prognosis Positive

Ethereum Fundamentals are Solid – Prognosis Positive

June 28, 2023 Analysis
BITmarkets | Ethereum Fundamentals are Solid – Prognosis Positive

Looking at the recent performance of Ethereum’s native cryptocurrency, Ether (ETH), it can be noted that key fundamentals remain solid.

Key fundamentals  

- Market dominance among the rest of the altcoin pack

- Continually gaining market share

- Ethereum network usage data remains healthy

- The 67-day support test affirmed professional trader interest


ETH/USDT Perpetual - 15 Minute Time Frame

What to keep on your radar

- The SEC’s actions against Binance and Coinbase could positively impact Ether’s price. Ether’s price action, network data and other data that impacts investor sentiment all point to a high probability that Ether’s price will hold above $1,800.

- If investors worry about Ether breaking below the $1,800 support, it should be reflected in the ETH futures contract premium.

- The TVL statistic (Total Value Locked) measuring the deposits locked in Ethereum’s decentralized applications (DApps) registered a 4% increase in active addresses.

- The impact on Ether derivatives markets on the price has also been negligible.

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