Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up
The winds of change are blowing through the Ethereum (ETH) ecosystem. Despite tentative signs of recovery after recent dips, the price has struggled to stay afloat in the last 30 days. Additionally, a more intriguing trend has emerged: a mass exodus of ETH from cryptocurrency exchanges. This movement, marked by declining exchange supply and net outflows, has analysts buzzing with potential bullish implications. Related Reading: Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak Dwindling Stockpiles: Exchanges Feeling The Squeeze For years, cryptocurrency exchanges....
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Research firm Santiment has determined that Ethereum’s supply radius on exchange platforms is at a 28-month low. With 20.1% of ETH in its reserves, the last time the metric was at similar levels was in November 2018. Above is a look at the relationship between the increase in Ethereum supply on the exchanges and fluctuations […]
On-chain data shows the Ethereum Supply on Exchanges has plunged to a new all-time low as investors have continued to withdraw ETH. Ethereum Supply On Exchanges Has Continued Its Downtrend Recently In a new post on X, the on-chain analytics firm Santiment has discussed about the latest trend in the Supply on Exchanges for Ethereum. […]
On-chain data shows that the percentage of Ethereum supply present on exchanges has set new lows of around 14%. Ethereum Supply On Exchanges Continues To Go Down As pointed out by an analyst in a CryptoQuant post, the ETH supply present on exchanges has been going down since a while now. It has now hit new lows of about 14%. The “percentage supply on exchanges” is an indicator that shows the share of the total Ethereum supply stored in wallets of all exchanges. Usually, this supply present on exchanges is said to be the selling supply of ETH, and so if the indicator’s....