While Bitcoin price is getting sustainable, Ethereum could reach $1440. However, it is traded below this price channel. In our latest market analysis, we discussed Bitcoin and Ethereum. In fact, we analyzed Ethereum price based on Bitcoin and mentioned we can expect that Ethereum will surpass Bitcoin. However, many believe that Ethereum price is at its highest price and would not surge anymore. In this article we are going to discuss Ethereum future price from fundamental point of view. In fact, we want to know that will Ethereum surge even more?
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The first and main factor
The main factor, which we are going to discuss is to study and evaluate the amount of Ether accumulation through investors. For this purpose, we use an indicator, which shows inflow and outflow of Ether from exchanges. According to this indicator, the majority of investors withdrew their Ethers from exchanges. Interestingly, around 350,000 Ether withdrew from exchanges just in a day. Perhaps it becomes a question for you that what is the reason behind it? Santiment, a crypto analysis website, provided a right answer to this question. This website stated that Ether holders staked around 2.5 million tokens in their wallets. Investors will stake their token continuously. As a result, Ether will become scarce and its price will surge even more.
Studying Ethereum’s blockchain
By studying Ethereum blockchain, we can realize that the number of transactions, which transferred over 100 Ether, decreased by seven times compared to 2018. It means that still Ethereum whales and institutional investors did not enter the market and just micro traders and investors are active in the network. Therefore, by joining institutional investors to Ethereum market, we can expect even more price growth.
Will Ethereum Surge Even More?; Last factor
As last factor, Ethereum’s network hash rate increased during the last few days and reached 313 TH/S, which shows the network is busy.
Will Ethereum Surge Even More?; Last words
In addition, Ethereum miners recently had significant income. Consequently, the network is still working properly and do not show any fall.