According to data shared by Glassnode analytics agency, Ethereum exchange flow has dropped to a 16-month low. However, miners' ETH rewards have increased, and so has the ETH exchange rate.
It has hit the $464 level but then began sliding back down.
ETH miner revenue hits 2-year high
Analytics data supplier Glassnode has reported an increase in ETH miners' rewards. The value of the metric has reached a 2-year high, now totaling $602,139.48.
Previously, a 2-year high of this metric amounted to $599,529.97—on Aug. 13.
Exchange ETH deposits and withdrawals hit a major low
Another tweet from Glassnode said that ETH exchange netflow (which is the difference in volume between ETH sent to and from crypto exchanges) is down to a 16-month low of -14,004.623 ETH.
Users are not in a rush to transfer their ETH to trading platforms and are not withdrawing much.
The good news, though, is that the amount of ETH non-zero addresses has reached an all-time high of 46,369,750, increasing from the previous value of 46,367,456.
ETH OI surges, ETH hits $464
Major derivatives exchange Deribit has announced that open interest in Ethereum options has spiked after the expiration that took place recently and now equals $433 mln.
The recent monthly expiration took place on Friday of last week and brought the OI value down to $350 mln.
As for another crypto exchange dealing with derivatives, OKEx, open interest in ETH options here is higher and is now above $450 mln.
The aforementioned factors may have contributed to ETH reaching a high of $464 a short while ago. Later on, however, ETH began sliding and is now exchanging hands at $461 after dropping below $460, according to CoinMarketCap.
Vladislav Sopov