Ethereum Exchange Supply Plummets Historic Low

Ethereum Exchange Supply Reaches Historic Low, Boosting Bullish Sentiment

• Ethereum’s exchange supply has decreased to less than 4.9% of its total supply, the lowest since inception.
• The ETH price surged by 7%, surpassing $2,550, with a market cap exceeding $300 billion.
• Over the past month, Ethereum saw a 58% price gain and nearly 1 million ETH withdrawn from exchanges.
• The Ethereum futures open interest increased by 7%, reaching over $31.24 billion.
• A “Golden-Cross” pattern on the ETH chart suggests potential price targets between $3,800 and $5,000.

The Ethereum exchange-held supply has hit a historic low of under 4.9%, coinciding with a significant price increase and bullish market sentiment. This decrease in exchange supply indicates reduced selling pressure and increased long-term holding preference among investors.