🚀 Ether decreases on exchanges – Are we facing upcoming price pressure?
According to data from Cointelegraph and Glassnode, the amount of Ether (ETH) on centralized exchanges has reached its lowest level since the launch of the Ethereum network in 2015! 🔥
The latest reading showed that the balance on exchanges dropped to 8.7%, and by the end of the week it slightly increased to 8.8%, but it remains very low compared to the beginnings.
📉 What does this mean?
Since July, the amount of ETH on exchanges has decreased by 43%
This decrease indicates the absorption of currencies in:
Staking and Restaking
Layer-2 Projects
Digital Asset Treasuries (DATs)
Collateral Loops
Long-term holding
💡 This absorption creates pressure on supply, which could drive the price up as soon as the gap closes.
📊 Market indicators:
The On-Balance Volume (OBV) indicator recorded a break above resistance last Friday, indicating hidden buying strength
The price has remained stable above $3,000 in recent days, with resistance at $3,200
The ETH/BTC pair broke through the descending trend line last week, opening the door for potential upward movements
✨ Conclusion:
Ether is experiencing the tightest supply environment in its history, yet the opportunity for growth seems to be lurking behind the scenes. If you are following ETH, it may be time to closely monitor upcoming price movements.
📢 Share your opinion! Do you expect ETH to start a bullish wave soon? 💬⬆️
