Key Takeaways:
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Ethereum network activity rises 63% in 30 days, boosting the case for an imminent breakout to $ 5,000.
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Ether Futures open interest jumped for $ 69 billion, featuring stable demand for leveraged exposure.
Ether (Eth) rallied to its highest level in nearly four years on Friday, shining $ 351 million in destruction from leveraged bearish bets. The advance came after investors were priced at a less restrictive financial policy in the United States, following comments from the US Federal Reserve Chair Jerome Powell. Is this momentum finally pushing ETH beyond the $ 5,000 barrier?
The NASDAQ Rally Signal
The NASDAQ’s Tech-Heavy Index has risen to 1.8%, suggesting investors are pouring risk of risk and reallocating away in fixed revenue positions. Ether has gained 33% over the past 30 days, and three indicators now point to further strength, which potentially strengthens the ongoing bull. With ETH trading above $ 4,800, a breakout at new hours may be minutes or days away.
Powell’s comments on the Jackson Hole Economic Symposium have strengthened the expectations of many rates in the rate: “The Baseline’s perspective and the shift of the risk balance can be the warning of adjusting our policy stance.” According to CME Fedwatch toolBond markets priced at a 45% chance of rates falling at 3.5% or below March 2026, from 37% last week. Lower borrowing costs are financial harassment in companies easily, widely reducing systematic risks.
Ether also draw strength from surging onchain activity. Transactions to the Ethereum network jumped 63% in the last 30 days, while active addresses increased by 26%. For the comparison, Solana manages only a 2% increase in transactions, with active addresses decreased by 14%, according to Nansen data. Meanwhile, the BNB chain posted a steep 50% collapse in the transaction count.
While onchain metrics feature a growing activity, Futures groceries Reveal a more careful bearing. ETH futures contracts generally trade in a 5% to 10% annual premium on place prices to account for delays. Currently, the monthly futures premium stands at 7%, from a bearish 4% earlier on the week.
Part of this doubt comes from comparisons with competitors. Both bnb (Bnb) and tron (Trx) are trading well above their November 2021 all-time highs, while ETH continues to struggle below $ 4,868 climax. This space emphasizes why some merchants remain inescapable, even in the midst of strong network foundations.
Related: BlackRock led the $ 287M spot ether etf inflows after 4-day outflow streak
Healthy eth futures metrics strengthen the rally
According to X User JA_Maartun, consumers at Futures have not shown this aggressive level for more than a month. The Cryptoquant firm monitors these dynamics by measuring the volume of purchase orders full against sellers with pending offers, a sign of increasing trust.
Despite the recent extermination of bearish positions, combined -sa Open interest In ether futures remains stable at 14.4 million ETHs, unchanged from last week. In terms of dollars, the leveraged eth bets stand for a wonderful $ 69 billion, reflecting the stable demand for exposure.
The combination of raised premium futures, elastic open interest, and emerging onchain activity boosts the case for a breakout, suggesting $ 5,000 milestone may come earlier than many merchants expect.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
