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Cryptocurrencies Price Prediction: Ethereum, PEPE & FTX – American Wrap 21 November

Cryptocurrencies Price Prediction: Ethereum, PEPE & FTX – American Wrap 21 November
FXStreet TeamFXStreet TeamFXStreet

Ethereum Price Forecast: ETH open interest surge to all-time high after recent price rally

Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday. This price surge is attributed to strong bullish sentiment among derivatives traders, driving its open interest above $20 billion for the first time. Additionally, the average blob space per block has exceeded its limit level of 3, indicating that ETH's supply may become deflationary once more.
ETH Open Interest
Pepe emerged as the best-performing mega cap memecoin on Thursday, breaking past the vital $0.000020 resistance. Technical indicators and current market supply dynamics suggest more upside ahead.
Gary Wang, co-founder of the cryptocurrency exchange FTX, was sentenced to time served and three years of supervised release on Wednesday for his involvement in a $8 billion fraud scheme. Wang is now the last former FTX employee sentenced related to the exchange's collapse, as reported by CNBC.
 
 

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