ETH could start the week on a bullish note and these observations are to thank

An increase in these addresses confirmed multiple things about ETH. There was a decent demand for the cryptocurrency at its press time level and investors were accumulating the token. A notable observation that might be in support of this observation was the surge in active addresses in the last few days.The observation aligned with the surge in the number of addresses holding over 10 ETH. An upsurge in Ethereum’s network growth was also observed at around the same time.

Ethereum’s open interest in the derivatives market managed to achieve a sizable uptick in the last five days. This confirmed that the derivatives demand was gradually recovering. Furthermore, this move could be considered as a sign of returning price volatility.It was also worth noting that ETH’s estimated leverage ratio increased during the same time. This was important because leverage is one of the reasons why the crypto market is so volatile.

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