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Ethereum Bullish Signal?

4 months ago

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I saw a very interesting tweet on Twitter recently and would like to share with our valued MCS traders.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/39f2e3e7-385c-4e78-9c92-82e2d9603ae2/_2020-05-31__8.52.58.png

On May 27, 2020, Spencer Noon, the head of DTC Capital, tweeted his perspectives on the price of Ethereum (ETH). According to his tweet, he believes that the ETH is heading to a bull market based on the following 10 signs:

  1. Ethereum has 380k daily active addresses (90-day MA)
https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d8ecac5a-7fed-4a6c-8bbc-98760ebe17c8/_2020-05-31__8.53.11.png

2. More than 60 billion gas is now being used on a daily basis

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/38b17d71-1a9e-4e96-9053-47a1c6a3dc89/_2020-05-31__8.53.36.png

3. Ethereum is the only network besides Bitcoin that has a meaningful market for security paid in fees.

4. More than $7 billion in stablecoins have now been issued on Ethereum.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/3312399e-bb5e-42c1-91f6-c6fb6ab74e79/_2020-05-31__8.53.43.png

5. There are now 178k DeFi users, up from 90k only 5 months ago.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/f792a0e9-6dbf-48bc-b2e0-7defb4c79eec/_2020-05-31__8.53.50.png

6. different DeFi projects have more than $30m AUM, up from just 1 project a year ago.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/ba55bc6b-f12f-498c-99f8-12a2f5c93fd6/_2020-05-31__8.53.56.png

7. $25 million of WBTC has been minted since May 1st.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/8aa9163c-6fe6-4d48-87b0-eee6f0c8f782/_2020-05-31__8.54.07.png

8. 1 million new shares of Grayscale Investment's ETH have been issued in the past 3 weeks.

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9. There has been a net outflow of ETH from exchanges after March 12.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d18025b2-33f3-4bc6-98ad-5bcfb58e3b6e/_2020-05-31__8.54.22.png

10. Ethereum averages 850k transactions per day, up from 580k in early January.

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/c3879ea4-e71f-4492-9385-982dc990b818/_2020-05-31__8.54.33.png

Will a bull market be coming to Ethereum soon?

What's going to happen to Bitcoin if Ethereum bull market happens?

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Published 4 months ago