Opinion: Ethereum network growth reaches a four-month high, ETH price may rise to $3900
Recently, the market intelligence platform Santiment revealed positive changes in the Ethereum network on Platform X. According to data from SanbasePro, the growth level of the Ethereum network has significantly increased, indicating that cryptocurrency will become active again and is expected to show a bullish trend. It was reported that on September 8th, approximately 126,210 new wallet addresses were created on the Ethereum network. Surprisingly, despite Sunday usually being the least active day of the week, this network still recorded its highest growth momentum in four months and set a new milestone. Cryptocurrency analyst trader Tardigrade believes that Ethereum's price trend has entered a "double bottom" pattern or "W structure", which may indicate an imminent reversal in its price; this increase could potentially push Ethereum's price up to $3,900 USD. Another crypto analyst AliMartinez disclosed that Ethereum whales might have lost interest in cryptocurrency and pointed out they stopped accumulating ETH at beginning of July then shifted towards selling or redistributing their held assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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