Ethereum Supply Crunch Looms with ETFs Approval, Whale Activity
Saturday, 25 May 2024, 13:44
Ethereum's Exchange Supply at All-Time Low
Ethereum's availability on exchanges plummets to a historic low of 12.78 million ETH, marking a mere 11% of its entire supply.
Anticipated Demand Surge
Investors are withdrawing ETH from exchanges, anticipating institutional demand growth and potential price surge, showcasing bullish sentiment and long-term investment strategies.
Institutional Interest Post-ETF Approval
- SEC's approval of Ethereum ETFs opens doors to immense demand influx, akin to BTC ETFs' impact, projecting significant market reshaping.
- Institutional Activity Soars as on-chain trading volume reaches $15.98 billion, majorly executed by whales, indicating a strong institutional presence and trust in Ethereum.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.