• Santiment tweeted this morning that ETH’s active deposits reached an 8-month high.
• This milestone may be followed by increased volatility for ETH according to the post.
• At press time, ETH was trading at $1,900.06 after experiencing a 24-hour drop.

The blockchain intelligence firm Santiment shared a recent milestone for Ethereum (ETH) in a tweet this morning. According to the post, Ethereum’s active deposits recently hit an 8-month high. As a result, Santiment predicts that there will soon be an increase in ETH’s volatility – similar to the volatility spikes seen during the Merge and FTX collapse.

ETH’s active deposits (Source: Santiment)

The post showed that ETH saw 9,193 unique deposit addresses on exchanges. This is the highest that this metric has been since 15 September 2022.

At press time, CoinMarketCap indicated that ETH’s price had experienced a 24-hour drop. As a result of the price drop, ETH was changing hands at $1,900.06. ETH had also weakened against the market leader Bitcoin (BTC) by 0.14% over the same time period.

Along with the negative price performance, ETH’s 24-hour trading volume was also down 21.63%. This drop in tradi…

The post ETH Volatility Is Imminent Following a Spike in Active Deposits appeared first on Coin Edition.

• Santiment tweeted this morning that ETH’s active deposits reached an 8-month high.
• This milestone may be followed by increased volatility for ETH according to the post.
• At press time, ETH was trading at $1,900.06 after experiencing a 24-hour drop.

The blockchain intelligence firm Santiment shared a recent milestone for Ethereum (ETH) in a tweet this morning. According to the post, Ethereum’s active deposits recently hit an 8-month high. As a result, Santiment predicts that there will soon be an increase in ETH’s volatility – similar to the volatility spikes seen during the Merge and FTX collapse.

ETH’s active deposits (Source: Santiment)

The post showed that ETH saw 9,193 unique deposit addresses on exchanges. This is the highest that this metric has been since 15 September 2022.

At press time, CoinMarketCap indicated that ETH’s price had experienced a 24-hour drop. As a result of the price drop, ETH was changing hands at $1,900.06. ETH had also weakened against the market leader Bitcoin (BTC) by 0.14% over the same time period.

Along with the negative price performance, ETH’s 24-hour trading volume was also down 21.63%. This drop in tradi…

The post ETH Volatility Is Imminent Following a Spike in Active Deposits appeared first on Coin Edition.