Ethereum Supply Shock? Binance ETH Reserves Dip As Demand Gains Traction
Even though Ethereum is facing bearish action after a pullback from its all-time high a few days ago, the second-largest crypto asset is still holding remarkably well above the $4,000 price mark. There has been a notable bullish response from ETH investors in the midst of the waning price action, as indicated by a rise […]
Related News
Data shows Bitcoin and Ethereum exchange reserves continue their downtrend as the supply shock tightens its grip. Bitcoin And Ethereum Exchange Reserves Trend Downwards As pointed out by a crypto trader in a tweet, both Bitcoin and Ethereum continue to experience a decline in their exchange reserves. The exchange reserve of an asset is an […]
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....
The Ethereum supply shock has been growing as exchange reserves continue to decrease and value staked in ETH 2.0 contract rises. Ethereum Supply Shock: Exchange Reserves Go On Decreasing While ETH 2.0 Staking Contract Grows In Value As pointed out by a CryptoQuant post, ETH exchange reserves have been decreasing while the coins locked in the staking contract have been rising. The “all exchanges reserve” is an Ethereum indicator that highlights the total number of coins stored in wallets of all exchanges. When the value of this metric goes up, it means there is an increase in....
Ethereum’s on-chain activity has reached a new milestone and recorded 1.8 million daily transactions. This unprecedented level of network usage showcases the vitality of the world’s leading smart contract platform and also underscores the effectiveness of its multi-layered scaling strategy. What This Milestone Represents In The Context Of A One-Year High A pivotal shift is underway in the crypto market, and the on-chain data for Ethereum tells the story. As market analyst Onur highlighted on the social media X platform, Ethereum hit a monumental milestone last month with 1.8....