Ethereum’s large daily transactions exceed 10,000, the highest since August.
ETH market cap now tops Netflix and Johnson & Johnson.
Ethereum poised for a breakout, pending rate cuts and yield drops.
Ethereum whales are making large-scale transactions, pushing daily transaction counts above 10,000—the highest since August. This signals strong interest in the Ethereum network as investors anticipate a potential price breakout.
Source: Twitter
This surge in whale activity, a three-month high, suggests growing investor confidence in Ethereum. Moreover, Ethereum’s market cap is now higher than that of major NYSE-listed companies like Netflix and Johnson & Johnson.
Ethereum Price Analysis
On the price front, Ethereum’s native token ETH has taken a breather from its November 12 peak of $3,424. Indicators suggest it could soon reach new all-time highs. Analysts believe potential interest rate cuts and yield drops could make Ethereum more attractive.
Read also: Ethereum 3.0? “Beam Chain” Proposal Aims to Revamp ETH Consensus
Ethereum Whale Activity Hints at Potential Upside
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