Ether (ETH) has seen a significant increase in value, gaining nearly $1,000 in the last week and surging by 56% in the past 30 days.
Data from CryptoQuant has revealed different average cost basis zones for ETH holders based on their wallet sizes.
Wallets with balances ranging from 100,000 to 1,000 ETH have an average cost basis of $2,225, while those with 1,000 to 10,000 ETH have an average cost basis of $2,196.
ETH has shown positive signals as it remains above average cost basis levels, and analysts predict bullish sentiment due to minimal sell-side pressure and positive funding rates.