Ethereum’s Exchange Supply Drops To New Lows As ETH’s Price Closes Another Be...
With the broader crypto market’s renewed bullish condition, Ethereum is beginning to demonstrate robust upward movements as it hovers near the pivotal $1,900 level. Following the recent bullish performance, investors and traders are choosing to hold onto their coins, as indicated by a sharp drop in ETH’s exchange reserves. Exchanges Ethereum Reserves Drop Sharply Ethereum’s […]
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Ethereum has been one of the cryptocurrencies that have received major support from the crypto community regardless of how the price performs in the market. Since the Ethereum Merge was completed, though, the digital asset has not performed as well as expected. ETH’s price has continuously bled out, which has led to its price relegating to the low $1,000s. As the new month begins, speculations abound on whether the cryptocurrency has what it takes to recover. Three Red Weekly Closes Along with the rest of the crypto market, Ethereum’s price has suffered bitterly at the hands of the bulls.....
On-chain data shows Ethereum supply is barely changing anymore following the London hard fork. This means ETH is becoming a scarce asset now. Following London Fork, Ethereum Supply Rate Of Change Drops To Nearly Zero As pointed out by a CryptoQuant post, ETH’s supply curve has nearly flattened now as rate of change drops to almost zero. This has made the asset scarce. The Ethereum supply indicator tells us about the total amount of ETH that’s currently in circulation. As miners receive a block reward (in ETH) for mining blocks, this total supply increases with time. A related....
Ethereum continues its recovery phase, with the asset now trading above $1,800 after gaining approximately 15.3% over the past two weeks. Despite concerns from investors and a drop in public enthusiasm, ETH seems to have shown resilience.. The asset’s latest movement reflects renewed buying interest, and some on-chain indicators are pointing to potentially bullish momentum ahead. One of those indicators involves the supply of ETH on exchanges. Related Reading: Whales Sell 262,000 Ethereum Amid Recent Price Surge – Smart Exit Or Profit-Taking? Declining Exchange Supply Signals Reduced....
Recent data has shown what the XRP price would be if it flips Ethereum’s market cap. Such a development would also lead to a new all-time high (ATH) for XRP. Meanwhile, crypto experts have given their opinions on whether XRP could indeed flip Ethereum. How High The XRP Price Would Be If It Flips Ethereum’s Market Cap MarketCapOf data shows that the XRP price could reach as high as $3.94 if it flips Ethereum’s market cap. This is significant as a rally to this price level would mark a new ATH for the asset. Flipping ETH’s market cap also means that XRP will become the second largest....
A bearish technical setup and a declining number of Ether whales pose downside risks for ETH’s price. The annual supply rate of Ether (ETH) slipped below zero for the first time since Ethereum’s transition to proof-of-stake via the Merge in September. The reason? A spike in on-chain activity amid a massive cryptocurrency market crash. Ether turns deflationary for realAs of Nov. 9, more Ether tokens are being burned than created as a part of Ethereum’s fee-burning mechanism. Simply put, the more on-chain transactions, the more ETH transaction fees get burned. On a 30-day timeframe, the....