Ether (ETH) 330% annual gain to date has been largely driven by the growth of decentralized finance and NFTs.
This comes from OpenSea, the largest NFT market, topping the impressive $ 10 billion mark in cumulative trading volume.
However, traders are concerned that the 15% correction that followed the all-time high of $4,870 on November 10 could indicate that there is a larger bearish move.
The breakout of the 55-day ascending channel reinforces this thesis and the expiration of the $550 million Ether options on Nov. 19 will likely favor bears.
Ether / USD price in Bitstamp. According to: TradingViewEthereum The total value of $86 billion locked in smart contract contracts, represents 70% of the market and this metric has increased by 25% in the last two months, indicating that the industry leader is not It was affected by the network's average gas rates of $50.
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