From Pickles to Pixels

Chart of the Day

Steep curve. Chainalysis’ data on the cost of Ether acquisition presents the demand level at each entry price, which can be interpreted as the support for different price levels. The chart shows that entities acquired a large amount of ETH at around $1,800, forming solid support near that price level — the concrete price wall has emboldened ETH to scale a new ATH, despite relatively low demand. Past cost curves allude to radical changes in the Ether market. The rapid appreciation from $700 to the latest peak near $2.1k was driven by a significant amount of acquisition.