Market Wrap: Bitcoin Bounces From $13.2K; Ether on Centralized Exchanges at 2...
Bitcoin's price is trending up after a dip while traders are moving ether off from centralized exchanges.
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While the amount of ETH locked in DeFi protocols is up 75% since the start of 2020, the sum of Ether held on centralized exchanges has fallen by 30% over the same period. Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall.On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges over the past 17 months.Since the start of 2020, the share of supply....
Analysts predict Ether may soon hit a new all-time high after ETH reserves on centralized exchanges fell by 27% in two days. The amount of Ether held on exchanges has plunged over the past two days, with CryptoQuant data indicating that just 8.1 million ETH is currently sitting in the reserves of centralized exchanges.The acceleration of ETH being taken off exchanges was highlighted by Nuggets News’ Alex Saunders, who noted a 10% drop in Ether reserves on centralized platforms on Jan.14 — from 11 million to 10 million over 24 hours. “Exchanges will run out of ETH in 10 days at current....
Bitcoin’s price tested $11,800 Monday as investors continue to put BTC into new DeFi protocols.
More than $1 billion worth of Ether has been withdrawn from centralized exchanges within a 24-hour period. It's the second time this year and the price went vertical last time. More than $1 billion worth of Ether has been removed from centralized exchanges in 24 hours, leading to speculation about imminent price gains for Ethereum as supply shrinks on many trading venues.According to data shared by crypto analytics provider IntoTheBlock, $1.2 billion worth ETH was withdrawn from centralized exchanges on Sept. 16 to mark a new record in short-term outflows from exchanges.IntoTheBlock noted....
Bitcoin’s bull run stalls while ether is still acting like a little brother despite the audacious Eth 2.0 upgrade.