{"id":13706,"date":"2025-02-18T15:02:47","date_gmt":"2025-02-18T15:02:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=13706"},"modified":"2025-02-18T15:02:47","modified_gmt":"2025-02-18T15:02:47","slug":"ethereum-supply-on-exchanges-hits-historic-low-will-eth-price-respond","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=13706","title":{"rendered":"Ethereum Supply on Exchanges Hits Historic Low: Will ETH Price Respond?"},"content":{"rendered":"
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Ethereum has primarily traded between $2,600 and $2,800 since the February 3 crash. This muted price action has sparked concerns among investors.<\/p>\n

However, its brief tryst above $2,800 this week has led experts to speculate if ETH is showing signs of a turning point in its trajectory, even as it failed to retain the bullish momentum.<\/p>\n

Accelerated Exchange Withdrawals<\/h2>\n

According to Santiment\u2019s latest analysis<\/a>, Ethereum has shown mild signs of a rebound, currently trading near $2,700 and outperforming most altcoins at the start of the week.<\/p>\n

A key trend observed is the continued movement of ETH from exchanges to cold wallets at a \u201cshocking pace,\u201d with only 6.38% of its supply remaining on trading platforms \u2013 the lowest since genesis.<\/p>\n

Additionally, community interest in Ethereum rose in February which was indicative of a renewed confidence in the asset. After underperforming compared to other large-cap cryptocurrencies in 2024, there is growing anticipation that the world\u2019s largest altcoin may finally see a stronger recovery once broader market conditions improve.<\/p>\n

Room for Growth<\/h2>\n

Besides setbacks in price, Ethereum\u2019s market dominance has halved since April 2023, falling from 20.5% to 10.5%, as liquidity and attention have shifted to Solana (SOL) and, more recently, XRP.<\/p>\n

However, experts such as Nick Forster, founder of Derive.xyz, still believe that the altcoin is due for\u00a0recovery<\/a>, especially with the upcoming Pectra upgrade.\u00a0In a statement to CryptoPotato<\/em>, Forster said,<\/p>\n

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\u201cETH has a solid foundation for a resurgence. The Pectra upgrade, scheduled for April 8 for example, is bringing network improvements, faster transactions, and better staking mechanics. Vitalik\u2019s push for a 10x increase in the L1 gas limit, is citing improved application development and security. And the ETH Foundation\u2019s recent $120 million allocation to DeFi projects, is signaling a renewed focus on adoption and institutional interest through ETH Realize.\u201d<\/p>\n<\/blockquote>\n

According to Glassnode\u2019s latest update, US spot Ethereum ETFs have recorded net inflows of nearly 145,000 ETH so far this month. This is a significant surge, nearly seven times the total inflows observed in January. The strong inflows suggest that despite recent market uncertainties, the altcoin remains a favored asset among investors seeking exposure through regulated financial instruments.<\/p>\n

The post Ethereum Supply on Exchanges Hits Historic Low: Will ETH Price Respond?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum has primarily traded between $2,600 and $2,800 since the February 3 crash. This muted price action has sparked concerns among investors. However, its brief tryst above $2,800 this week has led experts to speculate if ETH is showing signs of a turning point in its trajectory, even as it failed to retain the bullish […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-13706","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13706"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13706\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}