ETH at $3.5k: Analyzing the 'yellow flags'

A
@Ibis
May 6, 2021

There seems to be nothing that can stop Ethereum at the moment.


The second largest cryptocurrency has gained +51.1% in the last 2 weeks, on its way to the $3.5k mark where it currently resides.


Is it time to chill? How sustainable is Ethereum’s ATH rally, exactly?


Let’s see what the data tells us.


To no one’s surprise, the amount of ETH-related mentions on crypto social media has skyrocketed in the past two weeks, growing by +255.3% between April 24th and May 3rd:

ETH, social volume, past 6 months (Source: Sanbase)

In fact, May 3rd saw the biggest single-day social volume for Ethereum since the coin’s launch, dwarfing even the height of the 2017 bull run:

ETH, social volume, all time (Source: Sanbase)

Safe to say that the crowd is feeling more than a little euphoric about Ethereum’s current foray