• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Ethereum Supply On Exchanges Reaches New Low Of 14%

Hououin Kyouma by Hououin Kyouma
8 months ago
in Ethereum
Reading Time: 3 mins read
Advertisement

On-chain data shows that the percentage of Ethereum supply present on exchanges has set new lows of around 14%.

Ethereum Supply On Exchanges Continues To Go Down

As pointed out by an analyst in a CryptoQuant post, the ETH supply present on exchanges has been going down since a while now. It has now hit new lows of about 14%.

The “percentage supply on exchanges” is an indicator that shows the share of the total Ethereum supply stored in wallets of all exchanges.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Usually, this supply present on exchanges is said to be the selling supply of ETH, and so if the indicator’s value goes up, it means there is a higher number of coins in the available sell supply.

Due to supply-demand dynamics of the market, this kind of trend can prove to be bearish for the cryptocurrency’s price.

On the other hand, if the metric’s value moves down, it implies the available supply of Ethereum has reduced. Prolonged such trend can create a supply shock in the market, which can turn out to be bullish for the coin’s price.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Related Reading | Exchanges See Bitcoin Outflows For 7th Straight Day As BTC Price Begins Recovery

Now, here is a chart that shows the trend in the percentage of total ETH supply on exchanges in the past year:

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Looks like the indicator's value has been gradually going down | Source: CryptoQuant

As you can see in the above graph, the percent ETH supply on exchanges has shown a steady downtrend during the entire year so far.

Currently, the value of the indicator sits around 14%, a new low. At the start of the year, the metric’s value was about 21% so that in the past year 7% of ETH supply has been taken off exchanges.

Related Reading | Ethereum Scarcity: After London Fork, ETH’s Supply Change Drops To Almost Zero

Also, back in May, when the price of Ethereum was at similar levels as now, the metric’s value was around 18%, a sizeable difference. Because of this the analyst believes that the current supply shock isn’t fully reflected in the price yet. And that it won’t be long until a difference is seen.

ETH Price

At the time of writing, Ethereum’s price floats around $4.6k, up 10% in the last seven days. Over the past month, the crypto has gained 5% in value.

The below chart shows the trend in the price of the coin over the last five days.

Ethereum Price Chart

ETH's price looks to be recovering from the crash | Source: ETHUSD on TradingView

A few days back, Ethereum and the wider market had a crash due to fud from the latest COVID variant. However, ETH looks to have already recovered from it.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
Tags: ETHethereumEthereum Supply Shockethusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Bullish Expectations From The Ethereum Merge Rise Post Chainlink's Announcement

Bullish Expectations From The Ethereum Merge Rise Post Chainlink’s Announcement

4 hours ago
Telstra Report Unveils Ethereum Devs Remain Strong During Bear Market

Telstra Report Unveils Ethereum Devs Remain Strong During Bear Market

5 hours ago
Ethereum ETH ETHUSDT

Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says

23 hours ago
Ethereum ETH ETHUSDT

What Would Be The Ethereum Merge Impact On Cryptocurrency Miners

2 days ago
Active Contribution Across Solana, Bitcoin, And Ethereum Grow

Active Contribution Across Solana, Bitcoin, And Ethereum Grow

4 days ago
Ethereum

The Pelosi Effect? Ethereum Faces Headwinds Over Area At $1,600

5 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Next Block Expo Is Aiming to Become the Biggest Blockchain Festival in Europe

August 9, 2022

Blockchain and Healthcare? This Entrepreneur Is Leaving His Mark In Multiple Industries

August 9, 2022

The CoinLoan Customer Satisfaction Survey Confirms Crypto’s Bright Future

August 9, 2022

Coinmerce: Boosting the Adoption of Cryptocurrency Through Web3

August 9, 2022

What Is Uniglo (GLO)? How Does It Compare To Shiba Inu (SHIB), Binance Coin (BNB) And Fantom (FTM)?

August 9, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.