Here’s why Ethereum could hit $4.9K before retail FOMO starts
Main Idea
Ethereum's price could potentially rise to $4.9K due to low unrealized profits and significant whale activity, with SharpLink Gaming becoming a major ETH holder.
Key Points
1. Ethereum's Relative Unrealized Profit metric is below +1 standard deviation, suggesting traders haven't cashed out yet, unlike in March when it reached +2σ.
2. A whale wallet transferred $40 million in ETH to SharpLink Gaming, totaling over $800 million, making SharpLink one of the largest Ethereum holders.
3. SharpLink Gaming now holds more ETH than the Ethereum Foundation, with only Bitmine and The Ether Machine holding more.
4. Despite the rally, retail interest in Ethereum remains low, indicating a potential calm-before-the-FOMO moment.
5. On-chain data and whale activity suggest Ethereum's rally may continue, with room for further price increases.
Description
Whales are buying, the crowd is silent. Something’s about to give.
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