Lark Davis who is a famous Cryptocurrency analyser pointed out four facts that are clear indication that the price of Ethereum can pump.
Lark Davis, crypto trader & popular influencer of crypto market, recently pointed out the main four points which are clear indications for the Ethereum rally.
In his latest video,he figured out that In last month there were more than 200,000 active addresses of Ethereum than Bitcoin. It is a clear indication that people have more interest and movement in Ethereum and Bitcoin.
And also many analysts found that there is a slow increment daily in the users of Ethereum and they can see through new Ethereum address activity.
A big volume of users on the Ethereum network is a clear indication of the use case of Ethereum. Activity of the new Ethereum address is proof of Ethereum use in real background level which is very high in comparison with other crypto assets.
“With Ethereum, there’s just so much more you can be doing, right? You can be doing decentralized finance (DeFi), buying non-fungible tokens (NFTs), or sending stablecoins or whatever else you might want to do on Ethereum
Also he pointed out , CEO of twitter, Jack Dorsey, is also using the Ethereum network to run their NFT token which is totally shocking. Dorsey openly supports only bitcoin and they don’t want to use any crypto asset as an investment.
But still use of Ethereum for their own project is a clear indication that they are using because they also believe in Ethereum.
Second factor that can boost Ethereum is Approval of the ETF( Ethereum exchange traded fund) by the SEC. At the present time the ETF is under the analysis and soon the SEC will approve it, Davis believes.
If the SEC will approve it then surely there will be a number of markets and applications based on the ETF market.
And the last catalyst is that 6 million Ethereum tokens have been staked on Ethereum 2.0, which means a huge volume of Ethereum tokens locked up in supply.