In the past week, when the conflict in Iran-Israel was at its peak, the recent American attack created the trust of investors, followed by a fatal warning.
As a result, the Ethereum price fell by 17% after 45 days of consolidation above the 200-day EMA. It has re-tested the $ 2200 support zone in the last three days of the third week of June.
Despite the significant price fall, the data on the chain speaks otherwise as the use and involvement have surprisingly increased in ETH.
Moreover, the recent WSJ shared a bullish news by An analyst Claim, that Israel intends to end his war with Iran soon. There is a major assistance as the short war ends. Keep reading to know more.
7-D top net flows explode in Ethereum
A recent after From a prominent investor and expert, TED cushions, reveals that Ethereum meant last week far from $ 1.4 billion, while others have much smaller net streams. This indicates that the use of Ethereum is increasing despite the current events.
Similarly, the number of unique addresses that show involvement with other chains in the Ethereum ecosystem has exploded. This means that ETH -Crypto moves because whales and settings accumulate at lows and a big move is probably.
Investors feel racing by time to load their suitcases with ETH
At the 23rd, Spot On Chain reported via X that “an anonymous setting 47,070 Ethereum bought with USDC (about $ 113 million) in the past three days.” The average purchase price for this transaction was $ 2,400, which is done to buy with a discount.
Another USDC involvement was seen when purchasing ETH, as a lookonchain named That a newcomer gokker had deposited 4.28 million USD into hyper fluid and had opened a 25x leverage on Ethereum.
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All kinds of market participants, whales or only traders, racing to make big profit, while the ETH is at discount prices.
In a recent message, TED cushions also emphasized the fact that Eth -Walvissen bought in total Ethereum crypto for more than $ 265 million during the weekend dip.
Moreover, he said in another after That smart money has bought aggressively in the past week, with $ 40 million plus ETF ETF inflow that was seen last week. Where the most active, as usual, was the ‘Ethha’ product from BlackRock.
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