The biggest rise in November reached over $2,100. altcoin Ethereum (ETH)has been moving above $2,000 in recent days.
While ETH investors expect the price to increase even more, CryptoQuant ETH analysis came from analyst “Woominkyu”.
Pointing out that institutional investors have recently collected ETH, the analyst said that this increase reflects investors’ strong belief in the long-term value and growth potential of Ethereum.
“The amount of Ethereum held by institutional investors saw a sudden increase in November 2023.
This increase, which occurred as Ethereum’s price stabilized between $1,800 and $1,900, indicates increased interest from institutional investors.
This increase also reflects their strong belief in the long-term value of Ethereum and the growth potential of the market.
Additionally, Ethereum’s technical improvements and upgrades, including Ethereum 2.0 upgrades and enhanced smart contract functionality, have highlighted ETH’s long-term investment potential, significantly attracting institutional investors. “
ETH At the time of writing, it continues to trade at $2,049.
The Surge in Institutional #Ethereum holdings
"This surge, occurring as Ethereum’s price stabilizes between 1.8K and 1.9K USD, signals a growing interest from institutional investors."
by @Woo_MinkyuLink https://t.co/qm3QHpU3cj
— CryptoQuant.com (@cryptoquant_com) November 27, 2023
*This is not investment advice.
Source: Bitcoinsistemi.com