The stories about the potential Ethereum ATH are back in focus this Uptober. However, as the $ETH price climbs towards its all-time high, investors remain cautious. Recent on-chain data suggests declining whale activity and slower inflows into ETH staking pools, hinting at hesitation over high gas fees, ETF uncertainty, and macro volatility.
To balance risk, many traders are diversifying into the best altcoins that could deliver faster gains if Ethereum’s rally slows down.
Here's more.
Ethereum has recently flirted and even briefly reclaimed its prior ATH on August 23rd, following a pump which took the crypto market cap back above $4 trillion. To go further, $ETH should break past the crucial barrier zone in the $4,700 to $4,900 range. If it manages to break this zone, it will have an open road towards a new ATH.
Some short-term ETH price predictions suggest a surge towards $5,200 or $5,500 if momentum holds. But risks remain real. If Ethereum fails to hold support zones, its price could fall to $3,470.
However, some on-chain data suggests that the road to the new Ethereum ATH won't be that easy. Ethereum is facing massive whale offloads in recent days. One of them withdrew 15,000 ETH worth approximately $70 million on Bitfinex. The same whale reportedly sold 30,000 $ETH worth around $138 million. This suggests that some large holders might be taking profit from ETH near resistance zones.
Ethereum is also facing lower staking levels, meaning fewer new $ETH deposits. Even institutional staking efforts face obstacles. Grayscale staked 32,000 Ethereum coins in its ETF program, but inflows to those ETFs haven't met expectations.
Lastly, Ethereum network revenue has dipped 6%, and volatility is down 40%, indicating that gas demand is weakening. When usage and revenue decrease, the question is how far speculative flows can push prices without renewed fundamental demand.
Of course, we shouldn't forget broader risks surrounding the overall crypto market, high fees, Ethereum ETFs, and other macroeconomic factors. As Ethereum ETFs remain popular, questions about their regulatory treatment, yield distribution, and inflow consistency remain open. Any unfavorable decision in this area could stop the dreams of another Ethereum ATH.
And while Ethereum’s Uptober performance shows strength, the path to a new ATH looks steep. While short-term ETH price predictions point to potential growth toward $5,200 or even $5,500, the fundamentals tell a different story. Whale sell-offs, cooling staking inflows, and declining network revenue all signal investors' hesitation.
Ethereum’s ability to set a new ATH will depend not only on price momentum, but also on on-chain demand, stronger ETF inflows, and macro stability. Until those align, the new Ethereum ATH could be just another dream.
If you are a risk-averse investor, you should stay clear of Ethereum. Here are other best altcoins that you can buy for less and still earn massive gains.
PEPENODE ($PEPENODE) is revolutionizing the crypto market as the first-ever mine-to-earn meme coin. There is no need for technical knowledge or expensive equipment when using PEPENODE. All users operate virtual nodes to mine. Further, if they invest in the project during the presale, they get the best nodes and other benefits. PEPENODE's high staking rewards, the fact that investors can utilize all project features before the release, make it one of the best altcoins to buy now.
As Ethereum faces resistance near $4,900 and on-chain demand cools, PEPENODE attracts those seeking active rewards while waiting for the next big rally. So, don't wait for the next bull run to invest in $PEPENODE. Its presale has raised over $1.7 million, and the next price increase is close!
Maxi Doge ($MAXI) combines a well-known dog-themed branding with a DeFi-powered ecosystem with staking and trading competitions. Its presale crossed over $2.8 million. The whales have also put their focus on the project, investing thousands of dollars in it. The massive interest signals the belief that $MAXI is one of the best altcoins with the potential to overcome Dogecoin.
For investors wary of Ethereum’s ability to reach new ATH, Maxi Doge represents a great chance for 100x gains. If you want to invest in $MAXI, hurry. The next presale stage starts soon, and the Maxi Doge price will increase.
Act now to secure the lowest price ever.
The path to a fresh new Ethereum ATH will not be smooth, despite the coin's strong performance during Uptober. Whale sell-offs, cooling staking inflows, and weaker network revenue all hint that Ethereum's fundamentals are unstable.
That uncertainty is why some investors are moving towards PEPENODE and Maxi Doge. Both have gained traction as the best altcoins for long-term gains, PEPENODE for its mine-to-earn model and Maxi Doge for blending meme culture with DeFi. In a situation where ETH growth stalls, these emerging tokens offer investors better ROI opportunities than ETH. So, hurry and secure these two coins at the lowest prices now.
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