This major analyst says crypto sentiment is positive, largely thanks to approaching Ethereum upgrade
Naeem Aslam, chief market analyst At AvaTrade, believes that the crypto market is positive at the moment, as Bitcoin is above $22,000 and Ethereum is heading towards a long-expected merge.
This event, switching the second largest blockchain to Ethereum 2.0 and proof of stake, is going to be the main focal point, he tweeted.
Now, traders are watching the price of ETH, watching it carefully.
Popular on-chain data vendor Santiment has tweeted that as Ethereum Merge will happen later this week, on Sept. 15 as expected, the number of mentions related to this long-awaited upgrade has surged drastically. Traders believe ETH volatility is inevitable too, though.
Meanwhile, there is an increasing number of medium-sized and large-sized investors in Ethereum. As reported by the Glassnode data aggregator, the number of addresses holding over 100 ETH and 10,000 ETH has hit an 18-month high and a 4-month high, respectively.
