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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Ethereum ‘Heating Up’ – Address Activity Jumps Nearly 10% In 2 Days

Christian Encila
Christian Encila
4 months ago
3 mins read
Ethereum

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Ethereum demonstrated evidence of new momentum this week as network activity and price action both reversed after a slow stretch. The second-largest cryptocurrency finally broke through a critical price barrier that had constrained its advance for over a week.

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Active Addresses Up By Almost 10%

As per statistics from CryptoQuant analyst Carmelo Alemán, Ethereum’s network experienced a notable increase in user activity between April 20 and April 22.

Active addresses increased from approximately 306,000 to more than 336,000 within this three-day period, a rise of nearly 10 percent. The network is just “heating up”, according to Alemán.

Ethereum is Heating Up!

“Ethereum’s active addresses jumped from 306,211 to 336,366, representing a 9.85% increase in just 48 hours” – By @oro_crypto

Read the full analysis ⤵️https://t.co/g55MiVnmOo pic.twitter.com/brIHtXx3Sx

— CryptoQuant.com (@cryptoquant_com) April 23, 2025

This frenzy in activity at addresses is usually indicative of changes in the market mood and rising investor interest. Market analysts often consider such rises as possible early indicators of price movements, mostly when they coincide with price rise.

Price Throttles Down To Major Resistance

Keeping on with the struggle of breaking above $1,640 accomplished since April, the price of Ethereum finally surpassed this resistance area. Striking above $1,780, the coin has defeated the confinement left by an assertive green daily candle.

For the first time in recent history, buyers appear to be taking center stage in the market. The price now reads as above both the 10-day and 20-day moving averages, indicating strength in the shorter-term.

The relative strength index is just above its 50 line, exhibiting some bullish momentum without being close to the overbought zone.

ETH market cap currently at $211 billion. Chart: TradingView

Technical Indicators Present Mixed Signals

Some indicators show great momentum, although everything is not perfectly aligned. The moving average convergence/divergence starts synthetizing foreboding trend reversal early with slightly positive numbers.

At the same time, the stochastic RSI approaches the upper limits of its range, which likely indicates short-term exhaustion unless more buyers come back soon.

Ethereum in the Greed zone. Source: CFGI

According to price forecasts, Ethereum will fall by 6.50% and hit $1,652 on May 24, 2025. Technical analysis indicates a bearish trend, while the Fear & Greed Index is at 64, which puts market sentiment in the “Greed” zone.

In the last month, Ethereum had green days 40% of the time (12 out of 30 days) with price volatility at 9.26%, data from CoinCodex shows.

Ethereum price prediction chart. Source: CoinCodex
Ethereum price prediction chart. Source: CoinCodex

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Bitcoin Rockets To Monthly Highs As Open Interest Explodes By Over $3 Billion

5 months ago

Network Usage Remains Low Despite Price Movement

One of the confounding things about Ethereum’s current state is the divergence between price action and real-world network usage. Transaction fees are still abnormally low at about $0.31 on average, based on YCharts data. Low fees indicate that on-chain demand is still lacking despite the network being inexpensive to use.

Source: YCharts

In spite of this conflicting sign, the combination of increasing active addresses and ETH holding position above prior resistance levels has enhanced the short-term picture.

Should present momentum continue, market strategists will be keeping a close eye to determine whether Ethereum can make a charge in the direction of the psychologically significant $2,000 price level.

Featured image from Fandom, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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