#Ethereum Exchange Supply Hits Lowest In History, ETH Rally to Continue?

On-chain data reveals that only 4.9% of total Ethereum supply remains on exchanges, with one million ETH removed just over last month.

Highlights

Ethereum exchange supply drop indicates reduced selling pressure and an inclination toward long-term holding.

With 58% gains over the last month, the ETH rally is supported by strong futures interest hitting $31.2 billion.

Crypto analyst Crypto Patel highlighted a “Golden Cross” on Ethereum's 12-hour chart, suggesting strong bullish action ahead.

Ethereum on-chain data shows that the ETH exchange supply has hit its lowest in history, highlighting reduced selling pressure and long-term holding positions. With this, ETH price has pumped 7% today, shooting past $2,550 levels, with its market cap crossing $300 billion. The overall market sentiment for ETH has turned extremely bullish, with 58% gains over the past month.