Advertisement
AD

Main navigation

ETH Balances on Exchanges See Historic Drop, Lowering Risk of Major Sell-Off: Santiment

Advertisement
Fri, 2/07/2021 - 8:31
ETH Balances on Exchanges See Historic Drop, Lowering Risk of Major Sell-Off: Santiment
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Analytics data vendor Santiment has published a tweet saying that Ethereum balances on multiple crypto exchanges have seen a historic drop.

Advertisement

The overall balance of the second largest cryptocurrency on crypto trading platforms has declined and went below 18 percent – that’s the lowest figure since November 2018.

Santiment believes that by moving their Ether out of exchanges into cold storage wallets, users have reduced the chances of a major ETH sell-off in the near future.

At the time of writing this article, Ethereum is trading at the $2,061 level. Earlier this year, ETH managed to hit an all-time high of $4,362 on May 12, as per the data provided by CoinMarketCap.

Related
Mike Novogratz: Ethereum May Become the Biggest Cryptocurrency

From the $1,368 price mark that ETH started 2021 with to the day when it reached the ATH in May, the second most popular crypto has seen a growth of 221 percent.

Since May 12, Ethereum has gone through a 54.73 percent decline, having recently recaptured the crucial $2,000 level.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles