Since the Trump Trade narrative ran its course in the crypto market, several digital assets, including Ethereum, have surged in value; however, while most coins have seen investors take profits, the same cannot be said for ETH.<\/p>\n
According to a CryptoQuant report<\/a> by pseudonymous analyst Onatt, retail ETH investors appear to be holding their positions instead of taking profits, suggesting that many traders still see the cryptocurrency as undervalued.<\/p>\n Ether was worth $3,100 at press time, with a 24-hour slight increase of 0.2% and a seven-day plunge of 2.7%. The cryptocurrency has done well monthly, recording a 17.76% rally. Despite its 38% surge<\/a> year-to-date, investors have remained persistent in holding their positions.<\/p>\n The evidence that investors are refraining from selling their assets can be seen in low inflows to deposit addresses for major crypto exchanges like Binance and OKX. Higher inflows into these addresses often signify that traders are moving their holdings for liquidation and profit-taking.<\/p>\n In addition, the Spent Output Profit Ratio (SOPR) of ETH is still less than 1.10, indicating that the majority of ether transactions are happening near breakeven levels, with investors realizing minimal profits.<\/p>\n \u201cThese metrics collectively reflect a strong \u201cbuy and hold\u201d sentiment among market participants, underpinned by confidence in ETH\u2019s long-term growth potential. Despite recent volatility, the market\u2019s reluctance to sell reinforces the belief that Ethereum\u2019s current price is still attractive, with further upside likely in the near term,\u201d the CryptoQuant analyst stated.<\/p>\n Onatt believes that ETH could reach $4,000 in the short term, provided its price remains<\/a> above the $2,800 level. However, CryptoQuant founder and CEO Ki Young Ju thinks otherwise. Ju opined<\/a> in a Wednesday tweet that ether\u2019s future performance depends on how much revenue Web3 apps can generate through stablecoins.<\/p>\n The CryptoQuant founder noted that Ethereum is underperforming against Bitcoin, as seen in the ETH-BTC Net Unrealized Profit\/Loss (NUPL) indicator hitting a 4-year low.<\/p>\n Although Ethereum\u2019s long-term perspectives<\/a> may differ and the current state of the network may be an opportunity for \u201cETH believers,\u201d Ju thinks the asset\u2019s underperformance<\/a> issue will unlikely be solved soon because the ecosystem is heavily leveraged.<\/p>\n \u201cOver a 1-year timeframe, I find it less appealing than Bitcoin, but it could gain appeal as regulations take shape,\u201d Ju added.<\/p>\n The post Retail Investors Persist in Holding ETH Despite Asset\u2019s Recent Surge: CryptoQuant<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Since the Trump Trade narrative ran its course in the crypto market, several digital assets, including Ethereum, have surged in value; however, while most coins have seen investors take profits, the same cannot be said for ETH. According to a CryptoQuant report by pseudonymous analyst Onatt, retail ETH investors appear to be holding their positions […]<\/p>\n","protected":false},"author":0,"featured_media":22586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22585"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22585"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22586"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Retail ETH Investors Not Selling<\/h2>\n
Can ETH Hit $4K in the Short-term?<\/h2>\n