$ETH rally to $5.5K possible due to illiquid supply and bullish $ETH ETH futures signal.
Key takeaways:
More than 70% of the Ether supply is staked, underpinning a longer-term bullish environment.
Ether whales added more than 411,000 ETH in August.
Binance ETH futures open interest remains above $8.4 billion despite the $4,300 retest.
Ether (ETH) surged to an all-time high of $4,950 in August, fueled by broad market momentum and spot ETH ETF inflows. However, behind the rally, exchange and supply dynamics indicate a mix of short-term caution and long-term bullish signals.