Ethereum’s realized cap spikes to record highs as capital floods in: Report
Ethereum’s realized cap has surged into new all-time highs this month, indicating that new money is rushing to accumulate ETH. Ethereum’s realized capitalization has increased by nearly 50% in January so far to tag new all-time highs above $70 billion, according to CoinMetrics.The data shows that Ethereum’s realized cap has more than tripled since dropping below $25 billion in during March 2020’s “Black Thursday” crash..Ethereum’s realized cap: CoinMetricsThe realized capitalization metric calculates the value of a crypto asset’s supply according to when each unit last moved on-chain. The....
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Ethereum price action amid the broader crypto market bearish sentiment over recent weeks hasn’t been any different from the performance recorded in the past months. Over this period, Ethereum’s price has struggled to gain significant upward momentum, remaining in a prolonged consolidation phase. Amid this, a recent analysis by CryptoQuant contributor MAC_D has shed light on Ethereum’s current state and factors that may influence its future price trajectory. The analysis notes that Ethereum’s “ultrasound money” narrative—an idea tied to its post-Merge deflationary tokenomics—has faced....