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Ethereum Realized Cap Has Climbed To $244.6 Billion Recently:
In a new post on X, the on-chain analytics firm Glassnode has talked about how the trend in the Ethereum Realized Cap has flipped since the Pectra upgrade. The Pectra upgrade went live on May 7th and introduced a bunch of improvements to the ETH network, including staking enhancements and an increase in transaction capacity.
As the chart shared by the analytics firm shows, the upgrade’s arrival seems to have coincided with a reversal in the Realized Cap of the cryptocurrency.
Currently, BTC has reached the area of position two, while Ether is also close to hitting position two, as position two is 4560, with a maximum of 4558. However, the long wick candle at position two ensures that the long wick area can be entered. For the future market trend, the strength of the upcoming pullback has a significant impact, so it is important to prepare for defensive take profit actions. Based on individual average price, consider whether to set a breakeven point or continue to maintain the initial stop loss, and switch to breakeven betting after leaving the danger zone.