Analysis: ETH exchange balance hits an 8-year low, the listing of spot ETFs may trigger a supply shock
Cryptocurrency analyst Lark Davis posted on X stating that Glassnode data shows the balance of ETH in exchanges has reached an 8-year low, with only 10% of circulating ETH supply currently located in CEX. He also analyzed that a massive supply shock is imminent as a large amount of institutional funds will pour in with the expected start of Ethereum spot ETF trading within two weeks.
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
Analysis: Derivatives market reflects a reversal in bearish sentiment for Bitcoin, with bullish demand on the rise
RootData: XION will unlock tokens worth approximately $22.13 million in one week
Trending news
MoreCrypto prices
More
