CryptoQuant analysts have noticed a change in the Ethereum market

Following the recent drop in Ethereum's price below $3,200, major players and corporate investors have begun to return to the market, according to experts at the on-chain platform CryptoQuant. According to analysts, the increased activity of major investors may indicate that Ethereum has reached a local bottom.

The Return of Major Players

Corporate investors are using the current price decline in the second-largest cryptocurrency by market capitalization as an opportunity to enter the market. Meanwhile, retail traders remain cautious, which may indicate uncertainty in their sentiment.

CryptoQuant analysts suggest that if the current trend continues and the $3,000–$3,400 price range becomes a sustainable support level, Ethereum could enter a low-volatility accumulation phase. This, in turn, could pave the way for a final bullish impulse, which could lead to a price rise to $4,500–$4,800.

Positive Market Signals

Centralized crypto exchanges are seeing a decline in Ether volume, which could also be seen as a positive sign. Investors are moving their assets to cold wallets, reducing selling pressure and potentially contributing to Ether's price growth in the future.

Future Predictions for Ethereum

In the medium term, this could be an additional factor driving Ether's price growth and increasing traders' risk appetite. However, CryptoQuant analysts warn that a sustained bullish trend is not expected until next year.

Furthermore, specialists at the Growthepie platform previously reported that the Ethereum blockchain set a new record, processing 24,192 transactions per second (TPS), the highest figure in the network's history. This could also indicate growing interest in the platform and its capabilities.