Crypto Express

07/07 01:07

Ethereum floods an exchange

Ethereum’s Exchange Reserve on exchange surged past 4.9 million, the highest level seen since May 2023.

That’s over 4% of ETH’s total circulating supply now sitting on a single exchange.

This kind of spike is often linked to incoming selling pressure. Historically, growing reserves on centralized exchanges have preceded price corrections.

Yet this time, the price hasn’t buckled.

Despite the reserve spike, ETH stayed relatively stable around $2,590. That kind of resilience is a sign that buyers might be absorbing the sell-side pressure or that whales are gearing up for something bigger.

Either way, this is no ordinary supply shift.

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