Ethereum Shows Resilience Amid Market Volatility; Upcoming Federal Rate Decision to Impact

In the midst of rising market volatility, the price of Ethereum (ETH) has consolidated at around $1,750, showing a 3% decrease compared to last week’s peak. A comprehensive analysis of on-chain data indicates that increased staking activities have helped ETH avoid a steep pullback. In contrast to the 13% decline in the global altcoin market value, the price of Ethereum (ETH) has demonstrated significant resilience in the past two weeks. The heightened demand from worried altcoin investors and an increase in ETH staking activities have played a vital role in ETH’s robust performance. Currently, markets are pricing in a 78% probability of a pause in the Fed Interest Rate. How could the impending Fed Rate announcement impact ETH price movements in the upcoming weeks? State of Ethereum After reaching an all-time high in May, staking activities in the Ethereum ecosystem continued to increase in June 2023. Glassnode’s Supply in Smart […] The post Ethereum Shows Resilience Amid Market Volatility; Upcoming Federal Rate Decision to Impact appeared first on COINTURK NEWS.