Ethereum Supply Shock Deepens: Exchange Reserves Decline 18% In 5 Months
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....
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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 […]
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....
Bitcoin spot reserves continue the recent trend of decline as values now stand at the lowest since October 2017. This shows the supply shock is tightening its grip. Bitcoin Supply Shock Narrative Grows Further As Spot Reserves Decline To October 2017 Levels As pointed out by a CryptoQuant post, BTC spot reserves have dropped down to lows not seen since October 2017. The spot reserves is a Bitcoin indicator that shows the total amount of coins held on wallets of all spot exchanges. When the value of the metric goes up, it means there is now an increase in the supply of BTC for selling and....
Bitcoin is experiencing a challenging period, with its price remaining below the $100,000 mark after a significant drop earlier this week. Today, Bitcoin hovers just above $98,000, marking a nearly 10% decline from its all-time high of over $109,000 recorded last month. Interestingly, while BTC’s price has slowed, its exchange reserve has faced the same fate, with data showing a continuous decline from this metric. Related Reading: 49,700 Dormant Bitcoin Just Moved—What’s Next For BTC’s Price? Does This Suggest An Incoming Rebound For Bitcoin? ShayanBTC, one contributor to the....
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,....