Crypto Express

07/22 02:36

ETH Exchange reserves drop as deposits Slow

The amount of ETH held on exchanges has declined significantly. While exchange reserves had increased in previous weeks, they have now resumed a downward trend.

At the time of writing, ETH availability on exchanges sits at 19.7 million—suggesting that investors are pulling their assets off exchanges, reducing the likelihood of near-term sell-offs.

In fact, the number of depositing addresses has dropped sharply, reaching a low last seen on the 7th of July.

With only 16,000 addresses currently depositing ETH, the data points to decreased selling activity, especially after ETH’s 54% rally over the past four weeks.

If this trend continues, the reduction in available ETH could trigger a supply squeeze, a scenario where demand outpaces the limited available supply, potentially fueling further price increases

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