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Supply dynamics post ATH indicate this for Ethereum in the near future
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Ethereum, the king altcoin has enjoyed a steady climb upward, reaching an ATH of $4,440.77 and was still trading at a modest $4,330.08. While price predictions and anticipations of a run to another ATH are floating around in the market, Ethereum’s supply dynamics have been narrating a separate tune, a pleasant tune (luckily for the bulls).
Notably, the number of ETH active addresses over the past month saw a steady rise which was key to establishing its new price ATH of $4,457 on October 29. This increased utility continued to be one of the main proponents for price gains.
Source: Santiment
The good news was that active addresses still held the higher levels, as did ETH’s price. Further, the number of new addresses also saw a massive uptick
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