Ethereum (ETH) shows strong signs of recovery after Total Value Locked (TVL) dominance surpassed 53%, the highest since last March.
Nevertheless, Ethereum reserves on exchanges dropped by 1.1% in the last 24 hours to 19.25 million ETH, indicating a release of short-term selling pressure.
Additionally, the negative net flow direction also indicates more ETH being transferred to private wallets, which is usually a signal of accumulation by long-term investors.
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