bitcoin While the price is above $ 60,000 once again, it is seen that some altcoins are standing still and are at much lower points compared to BTC.
Although Ethereum has shown some relatively positive movements, experts think that ETH did not react enough after BTC came so close to the all-time record.
Looking at the data on cryptocurrency exchanges, Ethereum actually seems to be preparing for a big move.
Ethereum Reserve Drops
According to the information transmitted by CryptoQuant, crypto currency exchanges ETH The reserve is constantly and rapidly decreasing.
It is reported that the Ethereum reserve in the exchanges has decreased to the level of 18.5 million. The reserves, which have declined since August, were hit hardest last week, and there was a rapid decline from 18.7 million ETH to 18.49 million ETH.
So, what does the decrease in the amount of ETH in crypto money exchanges and its regression to the level of 64 billion dollars mean? This actually indicates that there is enough ETH to correspond to 15% of the total reserve in crypto money exchanges and the selling pressure is reduced.
ETH is constantly being used for staking or for long-term investment in the DeFi world. It is a well-known fact that the higher the demand for an asset, the lower the supply, the higher the price will increase. Currently, 85% of the ETH supply is officially locked.
This indicates that ETH will catch a serious increase in a possible rally.
*Not Investment Advice.