Ethereum (ETH) has surged by approximately 6% over the past week, with analysts forecasting the potential for the cryptocurrency to surpass $4,000. This bullish sentiment is supported by positive on-chain metrics and an increasingly optimistic sentiment on platforms like Telegram. Ethereum’s exchange netflow has been largely negative in the past month, indicating a shift from centralized exchanges to self-custody solutions, which could be a positive sign. Moreover, over 30% of ETH-related messages on Telegram are positive, according to IntoTheBlock, with only 2% being negative, suggesting a growing positive sentiment that could attract more retail investors and drive short-term price increases.
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