On May 23, according to glassnode data, the ETH price broke through its realized price of $1,900 in May, meaning most token holders have regained profitability. Currently, ETH has risen above the true market mean of $2,400, which is a bullish signal; however, to further enhance market confidence, it still needs to effectively break through the active realized price of $2,900.
Glassnode: ETH has bullish signals, breaking through $2,900 can further enhance market confidence
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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