It’s been just revealed that an Ethereum competitor is getting ready for a massive rally. Check out the latest reports below.
Ethereum competitor expects a massive rally
A really popular crypto analyst is predicting that one Ethereum (ETH) rival is setting up for an epic surge. This is reportedly bound to happen even after outperforming the broader crypto markets over the last few days.
Crypto strategist Michaël van de Poppe said recently that Fantom (FTM) went on a strong surge this week before seeing a brief retracement.
The analyst also addressed the blockchain scaling solution Polygon (MATIC), predicting a rally that could possibly retest the $1.30 price level.
“Showing strength recently. If $0.84 grants a long, I’d be looking for one there. Further, expecting continuation towards $1 and higher in the coming few weeks, potentially a retest at $1.30.”
Ethereum metric flashes bullish signal
The other day, we revealed that the crypto analytics firm Santiment says that a key metric is flashing a bullish signal for Ethereum (ETH) amidst a persistent crypto bear market.
According to Santiment, Ethereum is flashing signs for a big rally after a surge in address activity.
Just in case you don’t know, this is an on-chain metric that tracks the number of distinct ETH addresses that participated in a transfer on any given day.
“Ethereum’s active addresses surged to its highest level in over six weeks yesterday, and that likely factored into today’s price growth. On October 15th, the last time addresses spiked at this level, the price of ETH jumped +30% over the next three weeks.”
Santiment also made sure to explain the fact that the number of Ethereum whales and sharks, or entities holding between 100 to 100,000 ETH, are increasing since the high-profile implosion of FTX in early November.
“Ethereum’s large key addresses have been growing in number since the FTX debacle in early November. Pictured are the key moments where shark and whale addresses have accumulated and dumped. The number of 100 to 100,000 ETH addresses is at a 20-month high.”