Currently, Binance holds 25% of Ethereum’s exchange reserves, with a noticeable increase from 3.8 million to nearly 5 million ETH. This influx indicates a notable shift in market dynamics and potential bullish outlook.
Open interest for Ethereum rose by 9.99%, reaching 24.17 billion USD, indicating heightened trading activity. This surge reflects traders’ confidence for future movements, but also suggests increased risk volatility.
Despite positive indicators, Ethereum’s network activity has declined, evident from reduced user adoption and transactions. This disconnect raises questions about the reliability of the current price rally.
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