Ethereum

United

when

<p><strong>The stars seem perfectly aligned for Ethereum to start an explosive trajectory in the coming weeks! Indeed, since the approval of Ether ETFs in the United States on May 23, no less than 3 billion dollars of this digital currency have been massively withdrawn from centralized exchange platforms. A signal potentially announcing a shortage of supply in the crypto market!</strong></p>
<h2 id="h-crypto-the-dangerous-decline-of-ethereum-reserves">Crypto: The dangerous decline of Ethereum reserves!</h2>
<p>The latest figures couldn’t be clearer. Between May 23 and June 2, approximately 797,000 Ethers worth 3.02 billion dollars were siphoned off from the reserves of centralized exchange platforms. In other words, <a href="https://www.cointribune.com/en/crypto-investors-are-in-danger/" target="_blank" rel="noopener noreferrer nofollow">crypto investors</a> have significantly reduced the available liquidity for an immediate sale.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This massive capital movement had the immediate effect of further reducing the circulating supply of Ether. And precisely, the very latest data from the analysis company Glassnode are very telling in this regard! According to their estimates, the percentage of the total supply of Ether currently held on exchange platforms has dropped to only 10.6%. Its lowest level in history for years!</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="581" src="https://www.cointribune.com/app/uploads/2024/06/IMG_5434-1024x581.jpeg" alt="According to crypto analysts, the percentage of the total supply of Ether currently held on exchange platforms has dropped to only 10.6%." class="wp-image-697414" srcset="https://www.cointribune.com/app/uploads/2024/06/IMG_5434-1024x581.jpeg 1024w, https://www.cointribune.com/app/uploads/2024/06/IMG_5434-300x170.jpeg 300w, https://www.cointribune.com/app/uploads/2024/06/IMG_5434-768x436.jpeg 768w, https://www.cointribune.com/app/uploads/2024/06/IMG_5434.jpeg 1122w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Crypto: the total supply of ethereum</em>
  </figcaption>
 </figure>
</div>
<h2 id="h-an-ideal-ingredient-for-a-new-surge-in-prices">An ideal ingredient for a new surge in prices</h2>
<p>Normally, this very <a href="https://cryptoquant.com/asset/eth/chart/exchange-flows/exchange-reserve" target="_blank" rel="noopener noreferrer nofollow">dangerous decline of reserves</a> available could dramatically exacerbate the buying pressure on the Ether markets. Although contrary to the ideal of decentralization, this sudden contraction of the circulating supply has often been a precursor to powerful speculative bullish movements in the crypto sector.</p>
<p>And the opportunity couldn’t be more perfect at a time when the highly anticipated launch of Ether ETFs on the stock exchange is drawing closer. According to crypto analysts, this start of negotiations could even be a “legitimate possibility” by the end of June!</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/invite?a=2831A22E17" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>An already palpable enthusiasm that has not escaped the experts. Many are already predicting a scenario of spectacular surge for Ether, similar to that observed for Bitcoin after the start of BTC ETF negotiations last January.</p>
<p>Undeniably, all indicators seem to point to Ethereum soaring to new stratospheric heights in the very near future. The prospect of the first regulated <a href="https://www.cointribune.com/en/the-bitcoin-etfs-are-exploding-and-exceeding-13-billion-in-inflows/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a> combined with the severe contraction of its available supply could trigger an unprecedented buying frenzy. A golden opportunity for bold investors, but also a major risk of a devastating speculative bubble if euphoria were to take hold.</p>

Crypto: +3 billion dollars of Ethereum withdrawn from CEX! What is happening!

Table of Contents

Cointribune EN

Other articles published on Jun 4, 2024

Memecoin Hype Continues to Influence the Crypto Market

5 Best Altcoins to Invest in Now May 18 – GameStop, Immutable X, Akash Network, Injective

Bitcoin could trigger a stock market boom similar to the 1980s, says veteran trader

Sam Bankman-Fried is back in NYC prison for his appeal

Kaspa, Gala and KangaMoon’s Weekly Surge Explained: One Can Grow 100x

BlockDAG’s New Keynote Sparks $40.8M Presale Triumph, Surpassing The Graph (GRT) Analysis and Sta...

Join our free newsletter for daily crypto updates!