Ethereum Exchange Reserves Plummet To More Than Two-Year Low
Ethereum exchange reserves have now hit a new low for the first time in over two years. According to CryptoQuant, this number has plummeted from 26 million from June last year to less than 21 million by July 2021. This seems to be in tandem with the increase in the price of Ethereum. Over the […]
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Ethereum netflows seem to be negative across all exchanges right now, as exchange reserves continue their downward trend. Ethereum Reserves On A Downtrend As pointed out by a CryptoQuant post, ETH reserves continue with a downward trajectory. The all exchange netflows are also very red. The Ethereum all exchanges reserve is an indicator that shows […]
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....
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,....
As Ethereum’s price approaches new all-time highs, the coin’s supply shock seems to be deepening with exchange reserves declining 18% in the last five months. Ethereum Exchange Reserves Are Down 18% In The Last 5 Months As pointed out by a CryptoQuant post, ETH’s exchange reserves seem to have declined a lot in the last few months, signaling that a supply shock might be brewing in the crypto. The all exchanges reserve is an indicator that shows the total amount of Ethereum present in wallets of all exchanges. An increase in the metric’s value means investors are....