Cryptocurrency Ethereum has shown a high prospect of growth

According to cryptocurrency analysts, Ethereum’s price dynamics have recently become noticeably stronger — over the past 7 days, the token has grown by 6%. Experts have suggested that the market is on the verge of a new upward trend, as recent data suggests that certain groups of owners are starting to make a profit.

According to Santiment’s Market Value to Realized Value (MVRV) chart, some holders of the main altcoin have reached profitability. In particular, Santiment’s 180-day MVRV showed that the holders of this group had more than 1% profit at the time of publication. Currently, the MVRV has exceeded the 1% mark and reached 1.7%. This is especially noteworthy as this group has been in a loss position for more than 3 months.

According to analysts, this indicator increases the likelihood of further Ethereum growth. In addition, the analysis of the 90-day MVRV revealed even greater profitability for the group of investors. The chart shows that the 90-day MVRV is over 7% at the moment. With different categories of holders now holding assets at a profit, ETH may be poised for more significant bullish growth.

According to analyst Guy Turner, ethereum could rise by about 726% from the current rate in the next bull market. «…ETH is showing a decline in profitability and seems to be only one cycle behind BTC. The support zone for ETH during the previous cycle was around $ 250, and its maximum in 2021 is around $ 5,000, which is a 20-fold increase. And it portends a 7x growth compared to its current zone.

Similar to BTC, ETH’s zone for this cycle is around $ 2,500, which is about 10 times the zone of the previous cycle. Oddly enough, a 7x increase would bring ETH to a $ 15,000 top, which is also what many [з криптоекспертів] predicted," Turner said.