Ethereum is drying up, there is the least amount on exchanges in 10 years! Time for the decade's pump❓❓❓
In the world of crypto, this could be an alarm signal… but this time a positive one. Data from the Santiment platform shows that the amount of Ethereum available on exchanges has dropped to its lowest level since 2015. We have only 8.97 million tokens there. Investors are withdrawing ETH from exchanges and keeping it in cold wallets, hoping for increases. Such a move often heralds a supply shock. A situation where the availability of a coin is low while demand is rising. And then the rocket ignites its engines and takes off along with the cosmodrome. Will this be the case here?
Ethereum is disappearing from exchanges. Is this a harbinger of price explosions?
In January, a similar scenario played out with Bitcoin. When its amount on exchanges fell, a week later the price soared. ETH may now follow the same path. Social media is buzzing. Crypto General writes that "it's only a matter of time," while Ted warns that "buyers will soon be fighting for every token."
On the other hand – not everyone shares this wild enthusiasm. ETH is currently 26% below the level from a month ago, and ETF funds have recorded outflows for 12 consecutive days. A total of 370 million dollars has evaporated. Daan Crypto Trades comments that ETH against BTC looks the weakest it has in five years. Scott Melker, known as "The Wolf of All Streets," bluntly stated: "Either this is a generational bottom, or the end of Ethereum in its current form."
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A crazy rollercoaster with the ETH logo
If ETH maintains the trend and a supply shock actually occurs, we will undoubtedly be in for one of the bigger surprises this spring. But if demand does not materialize… even this historically low level of supply will not be enough. The market will show the way.
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