As for the second largest coin by market cap, Ethereum remains buoyed by successfully passing through the last test before the consensus shift from current proof-of-work to proof-of-stake, an event highly anticipated by the market. In the past month, the cryptocurrency is up over 20%.
Cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE) had a 15% gain over the weekend, thanks to the recovery in risk behavior in the token markets and optimism around Ethereum (ETH).
DOGE thus adds six days to the rise and has managed to rise more than 20%. The movement is due to the appreciation of the long-term prospects of digital currencies, despite the decline in prices, as after the slowdown in inflation, the Fed reaffirmed its dovish stance on monetary policy.
Investor expectations
The recent surge in short-term bitcoin (BTC) holders could signal a final sell-off, meaning the capitulation events are over, leaving the market poised for months of accumulation.
Market research company Glassnote’s latest “The Week On Chain” report on Monday notes that short-term holders (STHs) expanded their holdings and
Source: Ambito
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