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Ethereum Supply on Exchanges Drops to New Low, What Does It Mean for Polygon Price & Unilabs?

Ethereum Supply on Exchanges Drops to New Low, What Does It Mean for Polygon Price & Unilabs?

CryptodailyCryptodaily2025/05/31 16:00
By:Adrian Barkley

The recent bearish move seen in the Ethereum supply might have had an impact on the Polygon price and Unilabs Finance, the technical formation in the ETH network is pointing at something else.

Analysts are anticipating a stronger comeback from the bearish Ethereum supply in the upcoming sessions as major firms root for Ethereum’s ETF approval.

Ethereum Supply Plunge Affects Broader Market Sentiment

The latest Ethereum supply plunge might have alerted investors, but its technical indicators are showing strong signals. Big firms like Ark Invest and BlackRock are leading the charge. Having found success with Bitcoin ETFs, they are now advocating for ETH approval despite the decline in Ethereum supply.

Initially expected to be decided by the SEC in May, delays have pushed the timeline back to late summer amid the decline in Ethereum supply. Even so, once approval comes through, many believe it could send ETH soaring over the next year. As a result, ETH's price is forming an ascending triangle, which often points to a breakout.

Ethereum Supply on Exchanges Drops to New Low, What Does It Mean for Polygon Price & Unilabs? image 0

Source: TradingView

Additionally, ETH is consistently staying above key moving averages, indicating that buyers are actively stepping in. Trading volume remains steady, which gives the rally a solid base. If ETH's current price momentum remains steady, analysts are optimistic that it could cross the $3,000 mark soon and possibly be valued at $6,000 in the coming months.

Polygon Price Loses Its Shine: Drops By 4% in 24 Hours

The Polygon price is currently trading at $0.22 after a 4.63% dip in the past 24 hours, signaling a bearish sentiment in the short term. Despite the pullback, its trading volume has increased by 8.29% to $121.63 million, suggesting active interest from traders, possibly due to dip-buying or cautious repositioning.

With a Relative Strength Index (RSI) of 41.69, the Polygon price is approaching the oversold mark but hasn't hit the classic buy signal below 30 yet. The MACD sits at -0.0018, reinforcing the bearish momentum. However, the support level around $0.20 has historically acted as a bounce zone, which could attract bullish pressure if the market stabilizes.

Ethereum Supply on Exchanges Drops to New Low, What Does It Mean for Polygon Price & Unilabs? image 1

Source: TradingView

If the Polygon price can maintain its position above $0.20, there's potential for a short-term rebound toward the $0.25 - $0.27 range, especially if trading volumes remain elevated and macro sentiment turns positive. A sustained break above $0.30 would be needed to shift the Polygon price trend toward bullish sentiment, possibly aiming for the $0.35 - $0.40 zone.

Unilabs (UNIL) Stuns Ethereum Whales With Biggest Presale of 2025

Unilabs (UNIL) has surprised the entire crypto market with its explosive presale debut, listing as the biggest presale of 2025 by several experts. The platform’s proprietary AI engine helps investors scan the crypto market 24/7 and filter out noise and evaluate each project against a data-backed checklist. Unilabs merges deep financial analysis to deliver 10x opportunities.

After completing the hunting process and flagging high-potential projects, Unilabs executes the cross-checking process. The protocol begins by analyzing tokenomics, technology, and the core teams behind each blockchain solution. This vetting process ensures investors only see the golden ticket opportunities.

Unilabs AI-Driven Insights Get Noticed By Institutional Firms

The significant growth sentiment in the Unilabs (UNIL) network is attracting institutional firms as the platform’s AI-driven statistics make headlines. This DeFi asset manager follows a blockchain-based profit-sharing model to distribute the share of the gains automatically. The gains include capital positions, staking yields, and arbitrage wins.

Unilabs (UNIL) is built on the highest standards of decentralized security to ensure that all transactions within the platform are secure and transparent on the blockchain. Investors are betting big on Unilabs because it leverages advanced AI models to scan, analyze, and evaluate numerous emerging blockchain projects in real-time.

Conclusion:

With the dropping Ethereum supply, investors are shifting to more advanced and profit-oriented projects to recover from the broader market loss. Check out Unilabs presale as it crosses the massive $1.75 million presale milestone.

Discover More About Unilabs:

Presale: https://www.unilabs.finance/

Buy Presale: https://buy.unilabs.finance/

Telegram: https://t.me/s/unilabsofficial

Twitter: https://twitter.com/unilabsofficial

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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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.

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