Analysis of ETH-USDT in the last 24 hours 📊
Price Movement
$ETH is undergoing a correction phase after reaching a 7-month peak! 🔍
Current Price: 3641.58 USDT (as of 12:00)
24h Volatility: Decreased from 3730.17 USDT to 3641.58 USDT (~2.4%)
Trading Range: Fluctuating between 3572.62 USDT and 3771.85 USDT
Top News 📰
ETH just reached a 7-month peak - ETH hit 3760 USDT with a 6.15% increase on 20/07, the highest since last December.
Strong price volatility - ETH surpassed the 3800 USDT threshold (up 4.27%) on 21/07, but then adjusted below 3600 USDT on 23/07.
Active activity on Ethereum:
Total contract value on Ethereum exceeded 52 billion USD on 20/07, breaking the historical record.
AMM Ekubo recorded a record trading volume for the USDC/USDT pair, leading in volume and LP profits on Ethereum.
Broader market context:
USDT reached a record market cap of 160 billion USD.
ETHENA's USDE stablecoin has surpassed 6 billion USD in circulation supply.
Analysis 🧐
ETH is undergoing a short-term correction phase after reaching a 7-month peak. Trading volume has surged during downtrends, indicating that selling pressure is dominant. However, Ethereum's fundamentals remain strong with on-chain activity hitting record levels.
