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18/02/25
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Ethereum Surges to 12-Day High Amid Market Declines: Signs of Recovery?
Ethereum has demonstrated a notable performance, outshining much of the cryptocurrency market in a 24-hour period. This movement propelled Ether to a 12-day high, signaling potential signs of recovery in the digital asset. On February 17, Ethereum reached an intraday peak of $2,832 but was unable to sustain that level, dropping to around $2,720 in early trading the following day. Despite this, Ethereum managed to gain 2% while the overall market saw a decline of 2.4% in total capitalization.
From a long-term viewpoint, there are substantial shifts occurring regarding Ethereum’s supply on exchanges. Recent data reveals that only 6.38% of the total available supply is currently held on exchanges. This trend indicates that investors are increasingly moving their holdings into cold wallets, often interpreted as a sign of long-term holding. Such activity typically suggests a reduced likelihood of an impending sell-off, although experts caution that this trend should be analyzed over the long haul rather than for short-term trading strategies.
Moreover, the Ethereum community has shown renewed enthusiasm this month after a period of subdued performance. Following a stretch where it lagged behind other major cryptocurrencies, the prospect of a wider market recovery appears to be fostering optimism among holders. While there is some anticipation surrounding a rebound, skepticism still exists within parts of the community, as some observers note that even slight price increases in Ethereum can be followed by quick market declines.
In another positive development, the ETH/BTC ratio — a metric measuring Ethereum’s price relative to Bitcoin — has seen a modest improvement of 7%, reaching 0.029 on February 17. Despite this uptick, it continues to hover near levels not seen since December 2020, indicating ongoing competitive pressures in the market.
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