Ethereum Exchange Balances Drop To 9-Year Low – Time For A Major Price Move?
According to recent data from CryptoQuant, Ethereum (ETH) reserves on centralized cryptocurrency exchanges have dropped to a nine-year low. Experts suggest that this dwindling ETH supply could indicate an impending ‘supply shock,’ potentially fuelling a significant rally in the cryptocurrency. Ethereum Reserves At 9-Year Low Ethereum, the second-largest cryptocurrency by market cap, continues to trade within the mid-$2,000 range, sitting at $2,721 at the time of writing. Unlike Bitcoin (BTC), ETH has had a relatively quiet 2024, struggling to break past its all-time high (ATH) of $4,878,....
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Ethereum balances have continued their decline that began earlier this year. The decline of coins being kept on centralized exchanges has pointed to bullish sentiment among the large holder base of the digital asset. Despite the increase in the price of the asset in the past weeks and hitting new all-time highs since then, ETH […]
Ethereum had seen its balances on exchanges decline through 2021. This happened despite continuous market rallies that sent the digital asset towards all-time highs. Investors had accumulated all through bull rallies instead of trying to dump their coins, leading to reduced supply on centralized exchanges. This was also propelled forward by the growing popularity of DeFi. However, this trend is starting to reverse as exchange balances are now on the rise. Ethereum Exchange Balances Touch 3-Month High New on-chain reports have shown that Ethereum exchange balances are on the rise once more.....
Bitcoin exchange balances have been on the decline since the bull rally began. The volumes were expected to go up once the digital asset had hit a new all-time high in October. However, this was not the case. Previous trends have often pointed to exchange balances seeing an increase in bull markets when investors moved their holdings to exchanges in order to take profits. This bull market has defied all expectations for it and continues to do so. Outflows from exchanges outpace inflows as investors withdraw BTC from exchanges en masse. Exchange balance volumes relative to the circulating....
Bitcoin has started a recent downtrend that is threatening its position above the coveted $40,000 level. This is presumed to be caused by major sell-offs in the market. However, exchange metrics continue to show that this is not entirely the case. Exchange balances have been plummeting for the past year pointing towards massive accumulation trends and this has come to a head after bitcoin exchange balances have touched a new 4-year low. Exchange Balances Plummet It is no secret that the bitcoin being left on centralized exchanges has been declining. However, the margin by which this has....
The number of Ethereum small-time holders is on the rise. With each passing month, as more investors move into the market, ethereum has snatched some of the largest market shares. This is evidenced in the growth rate of the network, as well as the amount of ETH being held by investors on their balances. This time around, the number of ETH small-time holders has hit a new record. Holders Holding More Than 0.1 ETH At ATH Glassnode reported on Monday that the number of small-time Ethereum investors holding more than 0.1 ETH on their balances had touched a new high. This easily follows the....