CryptoQuant: Supply and demand trends and increased on-chain activity suggest Ethereum is likely to break through $5000

ChainCatcher news, according to The Block, CryptoQuant analysts stated that if the current supply and demand trends and investor interest continue to rise, the price of Ethereum could exceed $5,000.

They added that on-chain activity for Ethereum has increased, with daily transactions and dApp usage driving up network fees, and the increase in Ethereum burn has slowed down supply growth.