Quick take:
Ethereum’s daily active addresses have increased significantly in the last few daysSuch high activity on the Ethereum network is accompanied by ETH gaining significant valueETH has since broken the $420 and $450 resistance zones and could just break $500 in the days to followThe launch of ETH2.0 Phase 0 on December 1st, could provide additional market momentum
The majority of altcoins, led by Ethereum (ETH), are once again experiencing impressive gains after Bitcoin stole the show for almost a week. Bitcoin’s journey from $13,200 levels to a 2020 high of $15,950 – Binance rate – had stolen the spotlight and capital from other prominent digital assets. However, BTC is currently consolidating at the $15,500 thus allowing Ethereum and altcoins to thrive.
Ethereum’s Daily Active Addresses Hint of Bullishness
According to the team at Santiment, activity on the Ethereum network has experienced a significant increment beginning November 2nd. The team further adds that the metric for the daily active addresses on the Ethereum network recently moved into bullish territory last seen on October 16th. The team at Santiment shared their analysis via the following tweets.
2) other #altcoins as the FOMO crowd presumes that #Bitcoin will continue its dominance. Remember that markets tend to ebb and flow based on the least expected outcomes by the crowd. Sanbase PRO users can freely access this DAA vs. Price Divergence model. https://t.co/FzXrhZj7EE
— Santiment (@santimentfeed) November 6, 2020
