Opinion: Ethereum network growth hits a 4-month high, ETH price may rise to $3,900

On September 10th, Santiment, a market intelligence platform, disclosed the recent positive changes in the Ethereum network on the X platform. According to data from Sanbase Pro, the growth level of the Ethereum network has significantly improved, indicating that cryptocurrency will become active again and is expected to have a bullish trend.

It is reported that on September 8th, the number of new wallet addresses created on the Ethereum network was about 126,210. Surprisingly, despite Sunday being typically the least active day of the week, the network still recorded the highest growth momentum in four months, setting a new milestone.

Cryptocurrency analyst and trader Tardigrade believes that the Ethereum price trend has entered a "double bottom" pattern, and the "W structure" may indicate that its price may soon undergo a reversal, and this rise may push the Ethereum price up to $3,900.

Another cryptocurrency analyst, Ali Martinez, revealed that Ethereum whales may have lost interest in cryptocurrency and pointed out that they stopped accumulating ETH in early July, and since then have turned to selling or reallocating their holdings.