Ethereum (ETH) recently surged above the $1,860 resistance to reach an 86-day high.
Ethereum sees a surge in new addresses, hitting the highest daily count since October 7th.
Ethereum (ETH) has broken free from its bearish trap, surging above the $1,860 resistance level on November 2, and climbing to an 86-day peak. This bullish momentum has sparked fervor among investors trading ETH derivatives, and a key catalyst behind this newfound enthusiasm may well be the widespread anticipation surrounding the potential approval of a Bitcoin exchange-traded fund (ETF) in the United States.
Data from Santiment’s on-chain analytics, reveals that Ethereum’s recent ascent past the $1,800 mark is closely linked to a substantial surge in the creation of new addresses. In fact, this surge represents the highest daily number of new addresses since October 7th. If this trend of network expansion continues, ETH may revisit the $2,000 range once again.
Ethereum (ETH) Transaction Fees (Source: IntoThe
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