Cryptoquant Analyst: Ethereum's spot reserves on exchanges are continuously declining, while the total value of staked assets is increasing
TechFlow news from DeepTide, Cryptoquant analyst SimonaD pointed out that after the FTX incident, Ethereum's net inflow and spot exchange reserves highlighted investors' strong confidence in Ethereum's future recovery.
The chart shows that Ethereum's spot reserves on all exchanges are continuously declining, while the total value of Ethereum staked is increasing. Currently, the total balance of Ethereum staked exceeds 31 million, demonstrating confidence in its fundamental value and positive sentiment.
Reduced exchange reserves mean there isn't much selling pressure in the market. If this downward trend continues, prices may further increase.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
iZUMi Finance and Nasdaq-listed company CIMG jointly launch $20 million on-chain fund Upstarts Fund
After the Fed's rate cut, the US dollar rebounds and the euro retreats from a four-year high
Data: CryptoQuant analyst: BTC shows signs of short-term overheating, this rally has entered its late stage
Trending news
MoreCrypto prices
More
