My crypto people! Watch out for Ether (ETH), the second largest crypto, which although it has had some slips, it seems that investors are still keeping an eye on it for the long term! 🧐📉
The thing is this: the price of Ether has not managed to maintain the rise it had up to $2,880 last week and has been hovering around $2,400. It has even fallen 15% and liquidated about $277 million in positions! Crazy! 😱 But despite this downpour, the people who know about this, those who invest for the long term, still have their faith intact!
And why the confidence, you might ask? Well, there are several reasons. First, Ethereum's layer 2 networks are skyrocketing. Imagine they are like fast highways that make ETH transactions cheaper and quicker. Things like Base, Arbitrum, and Polygon are already moving more volume than Ethereum itself in some places. This is key for ETH to remain relevant! 🛣️💨
Additionally, Ether ETFs are receiving a lot of greenbacks! A whopping $830 million has entered these funds in the United States. This shows that big investors are betting big on ETH, even when the market is a bit crazy. 💰📈
Another important point is that the amount of ETH on exchanges is decreasing, and that's a good sign! When people take their cryptos out of exchanges, it means they don't plan to sell them soon, but rather they are going to hold them for the long term or put them to generate profits. Less supply to sell, more value for ETH! 💎
That said, not everything is rosy. The situation in the Middle East with Iran and Israel and the trade disputes between the United States and other countries are stirring things up and making the market unstable. No one expects ETH to return to $3,000 in the short term, but those in the derivatives markets (those betting on the future) believe that the $2,400 level will hold. So, even though things are rocky, Ether seems to have good support! 💪
So, if you have ETH or are thinking about getting in, stay alert! The resilience of this crypto is something to keep in mind, and although the road may be rocky, many are seeing a bright future for it. ✨$ETH $POL $ARB
