Ethereum proposal $ETH on cryptocurrency exchanges has reached its lowest level since 2016. According to CryptoQuant, the Exchange Supply Ratio (ESR) has decreased to approximately 0.137. They say this indicates a growing outflow of Ethereum to external wallets and a decrease in selling pressure.
On the exchange, #Binance the ESR has fallen to 0.0325. This means that a significant portion of Ethereum is leaving platform wallets, reducing the asset's supply in the spot market. According to analysts, this trend indicates a decrease in investors' willingness to sell in the short term.
The reduction in exchange supplies combined with the stability of the rate indicates a lack of strong selling pressure and rather suggests the market is entering a phase of liquidity absorption and repositioning, experts concluded.
ETHUSDT
Perp
2,934.09
-0.52%