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Ethereum’s Daily Active Addresses Surpass Bitcoin for the First Time in Crypto History

by Miki 06/29/2021
by Miki 06/29/2021 0 comment

As Bitcoin (BTC) continued to consolidate, Ethereum (ETH) gained momentum and breached the psychological price of $2,100. Ethereum has been surged by 12.47% in the last 24 hours to hit $2,130 during intraday trading, according to CoinMarketCap.

As a result, ETH made history by surpassing Bitcoin’s daily active addresses, as acknowledged by Santiment. The crypto analytic firm explained:

“On a day that saw history be made with Ethereum surpassing Bitcoin in daily active addresses for the first time, altcoins came to play. KSM, COMP, and ZIL were among many projects to make an imprint on the markets, while BTC ranged around $34.5K.”

Image

Ethereum’s daily active addresses shot up to 649,000, whereas those of Bitcoin stood at 580,000. Santiment also noted that other altcoins like Zilliqa (ZIL), Compound (COMP), and Kusama (KSM) performed well. 

Meanwhile, Bitcoin’s average trader returns recently sank to a 14-month low as FOMO (fear of missing out), bottom-selling, and top-buying became prevalent. This has been the opposite of profitable traders because they usually buy the low and sell the high. 

Is Ethereum staring at a continuation towards a breakout?

According to market analyst Michael van de Poppe:

“Ethereum is showing some strength here in which it’s currently facing a critical resistance zone. Not an area I’d be looking for longs. The aggressive play would be some short-term consolidation with support at $1,985-2,015. If that happens continuation towards a breakout.”

Image

The analyst had previously noted that Ethereum had to break through the $2,100 area to rise to the $2,900-$3,000 range. He stated:

“Ethereum holds a crucial support zone, but should still break through $2,150-2,250. If that happens, then I’m starting to target the other side of the range at $2,900-3,000. Good part; BTC pair is waking up on ETH, (whereas) other altcoins most likely going to follow suit.”

It, therefore, remains to be observed whether this is the start of Ethereum’s much-needed momentum following the recent market crash. 

Image source: Shutterstock



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The New Jersey Crypto News
  • Home
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    • Bitcoin
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    • Ripple
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    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

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      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

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      How to Start Trading Cryptocurrency

      10/21/2021

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      10/13/2021

  • Analysis
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      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
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