Ethereum’s Record Contract Deployment and Whale Accumulation Suggest Potential for Sustained Gains Amid Market Caution
Main Idea
Ethereum's record contract deployment and increased whale accumulation suggest potential for sustained gains, despite market caution and balanced leverage.
Key Points
1. Ethereum's new smart contract deployments have reached all-time highs, surpassing previous peaks from 2021 and 2022.
2. Whale accumulation of Ethereum has increased by 36.57% over the past week and 457.68% over thirty days, signaling aggressive positioning.
3. The Long/Short Ratio is nearly even (50.44% Longs vs. 49.56% Shorts), indicating market caution and potential volatility.
4. Exchange inflows recently outpaced outflows ($21.56 million), which may signal profit-taking after price gains.
5. Ethereum's ability to sustain its rally depends on continued developer momentum and whale demand outweighing risks from rising exchange inflows.
Description
Ethereum’s recent record in contract deployment, coupled with significant whale accumulation, suggests a potential bullish trend in the market. Ethereum’s 180-day Moving Average of new Smart Contracts has hit an
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