The cryptocurrency market has started to rise again with the announcement of Grayscale winning the SEC case. Ethereum (ETH) managed to surpass the $1700 level after its recent price increases. Crypto analysis platform Santiment evaluated the latest situation in Ethereum and shared current data and critical metrics.
The cryptocurrency market has started to rise again with the announcement of Grayscale winning the SEC case. The leading cryptocurrency Bitcoin (BTC) has surpassed the $27,600 price level with its recent price increases. The market’s rise has caused most cryptocurrencies to turn their direction upwards. The total market value of the crypto ecosystem has reached $1.09 trillion, according to CoinMarketCap (CMC) data.
With the recorded increases in a few hours, the volatility in the cryptocurrency market has also increased. According to Coinglass data, over $100 million worth of short and long positions were liquidated in the past 24 hours.
After the announcement of the news, Ethereum (ETH) also quickly rose. After testing the $1700 level multiple times within the last week but falling back from the $1690 level, ETHrecorded an average 4% increase in value in a few hours, reaching the $1700 level and reaching $1730 during the day.
Current Data Indicates Which Direction for ETH
The crypto analysis platform published a report evaluating the recent situation in Ethereum while the value loss in ETHaccelerated during the morning. Santiment, who shared their report on Ethereum’s current situation with a short note on Twitter, shared the current data, claiming that the metrics did not give worrying signals.
