Centralized exchange ETH reserves plummeted by 27% in 48 hours
Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: SAMUEL HAIG, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Cointelegraph Chinese (ID: CointelegraphChina)
Cointelegraph Chinese (ID: CointelegraphChina)
, Author: SAMUEL HAIG, reproduced by Odaily with authorization.ETHIn the past two days, the amount of Ethereum held by exchanges has dropped significantly. According to data from CryptoQuant, there are currently only 8.1 million ETH left on centralized exchanges.
Earlier today, Saunders pointed to a further 20% drop in Ethereum reserves, arguing that centralized platforms could be empty of ETH within the next 48 hours.
. Ethereum demand skyrocketed. Exchange ETH reserves dropped from 10 million to 8 million in the past few hours, a drop of 20%. Long term targets for Ethereum price are $5k, $10k, and $20k, and I suspect many HODLers (long term investors) will be selling ETH in the $1k to $2k price range. ️dataJanuary 14, 2021
databull market,He said:
ETH reserves on centralized exchanges have not been this low since July 2018, it shows. At the time of writing, the exchange has only 7% of the circulating supply of Ethereum.
Saunders believes that these data show that Ethereum is about to hit a record high and usher in an explosive growth rate.bull market,He said:“We all know what happens when the demand for BTC exceeds the supply. The price of Bitcoin quadrupled in 90 days.”。
Since hitting an all-time high of nearly 3 million BTC in March 2020, the number of exchanges has increased, according to CryptoQuant.Bitcoin reserve。
