This week, most cryptocurrencies have shown positive performances compared to the previous week, marked by significant declines. Among them, Ethereum (ETH) stands out with a notable increase of 24.82%. Several factors contribute to ETH’s standout performance, including increased accumulation by whales, reduced available supply due to smart contract locking, and traders holding onto their ETH, indicating confidence in its long-term potential. Additionally, expectations of lower interest rates and technical factors such as rebounding from key support levels have also contributed to ETH’s impressive performance. Overall, Ethereum’s strong showing this week underscores growing confidence and interest in the platform and its native cryptocurrency.
