PiCK
[Analysis] "Ethereum, Increase in Both New and Momentum Buyers… Signal of New Demand Inflow"
Minseung Kang
Summary
- On-chain analytics firm Glassnode announced that both new buyers and momentum buyers are increasing in the Ethereum (ETH) market.
- The firm analyzed that this signals new demand entering the market, with existing holders also showing an intention to raise their average holding cost through additional purchases.
- As of 5:30 PM on that day, the ETH price was reported to be trading at $4,182, up 7.28% from the previous day.
An analysis has indicated that both new buyers and momentum buyers are increasing in the Ethereum (ETH) market.
On the 9th (local time), on-chain analytics firm Glassnode stated via X (formerly Twitter), "Over the past few days, both first buyers and momentum buyers of Ethereum have been on the rise." The firm analyzed, "This implies that new demand is entering the market, and existing holders are also showing an intention to raise their average holding cost through additional purchases."
As of 5:30 PM that day, the price of ETH was trading at $4,182 on the Binance USDT market, up 7.28% from the previous day.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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