Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analytics Firm Santiment Says Ethereum (ETH) Close to ‘Opportunity Zone’ – But There’s a Catch

by Daily Hodl Staff
April 9, 2022
in Ethereum

Cryptocurrency market intelligence platform Santiment is revealing bullish prospects for the second-largest crypto asset by value.

In a new blog post, Santiment says that the Market Value to Realized Value (MVRV) metric of Ethereum (ETH) over the past seven days (7D) shows that ETH is near the “opportunity zone” where typically the price bottoms out.

The MVRV is used to show the average profit or loss of all coins in circulation at the prevailing price and is calculated as market capitalization over the acquisition costs of the assets in a wallet.

“ETH’s MVRV 7D which measures the short-term profit/loss of holders is showing that we are almost into the opportunity zone, which historically saw a local bottom being developed.”

Source: Santiment

The crypto market intelligence platform also says that the supply of Ethereum on exchanges is on a downward trend.

“ETH’s supply on exchanges continues to fall since mid-March, regardless of the rally. This may indicate that certain market participants with sizable amounts of ETH are not looking to sell anytime soon.”

Source: Santiment

Santiment also says that if the level of Ethereum gas fees is anything to go by, then ETH is nowhere near a price top.

“Previous major tops have seen average gas fees skyrocket as the crowd piled in, which actually makes this metric a decent proxy to spot whether we are close to the top.

Fast forward to today, we are nowhere near the sort of spike we saw back in May 2021 and Nov 2021.”

Source: Santiment

However, the market intelligence platform says that Ethereum’s social volume, the number of times a given term appears in messaging or social media platforms, is stagnant, and this could suggest that there is no buyer excitement for ETH.

According to Santiment, divergences between the price of Ethereum and social volume are not uncommon though.

“ETH social volume remains rather flat amidst the recent price rally, suggesting that the general market isn’t excited at all and perhaps in disbelief.

That said, ETH social volume has overall been on a downtrend since the start of the year as Ethereum continues to lose its appeal to other Layer-1s or Layer-2s.

Zooming out, we’ll notice that there was another similar ETH price and social volume divergence in the past year.

Could we be seeing the same behavior?”

Source: Santiment
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

Submit a Press Release

Industry Announcements

  • Anonymous Turns to CultDAO for Support Against Unjust Government Actions
    May 12, 2022
  • Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand
    May 12, 2022
  • Lina Valentina’s ‘No More’ NFT Collection Denounces Domestic Violence
    May 11, 2022
  • Cake DeFi Enters Into Esports With Competitive Gaming Platform FACEIT
    May 10, 2022
  • Introducing YUSE, the Ultimate Multi-Utility Token
    May 10, 2022
  • HUMAN Protocol Foundation Awards Grant to VeritaTrust To Build On-Chain Rewards for Reviews
    May 10, 2022
  • NUS Computing Joins Forces With TZ APAC To Develop Singapore’s Next Generation of Tech Innovators
    May 10, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,681.00
$29,681.00
1.74%
Ethereum
$2,007.63
$2,007.63
3.15%
BNB
$295.87
$295.87
1.58%
Cardano
$0.55886
$0.55886
1.07%
XRP
$0.413508
$0.413508
3.37%
Dogecoin
$0.087102
$0.087102
2.31%

Spotlight

  • Binance’s Reported Russian Activity Highlights Potential Privacy Concerns in Crypto Markets
    May 10, 2022
  • Investing Legend Mark Mobius Issues Warning to Crypto Investors, Details Dire Price Targets for Bitcoin (BTC)
    May 13, 2022
  • Analyst Who Predicted May 2021 Bitcoin Collapse Maps Potential BTC Capitulation Scenario
    May 9, 2022
  • SEC Chair Gary Gensler Says Crypto Exchanges Are Betting Against Their Own Clients: Report
    May 11, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl

 

Loading Comments...