Analysis: ETH exchange balance reaches 8-year low, spot ETF listing may trigger supply shock
Odaily2024/06/18 15:09
By:Odaily
Odaily News Lark Davis, a
cryptocurrency analyst, wrote on X that Glassnode data showed that the ETH exchange balance reached an 8-year low, and only 10% of the ETH circulating supply is currently in CEX. He also analyzed that with the
Ethereum spot ETF expected to start trading within two weeks, a large amount of institutional funds will pour in, and a large-scale supply shock is coming.
0
0
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.
PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!
You may also like
Bhutan's government holds $828M in Bitcoin
Grafa•2024/09/22 07:25
US resident fined $36 million for 5-year crypto fraud scheme
Grafa•2024/09/22 07:25
Kiyosaki predicts Bitcoin could reach $500,000 by 2025
Grafa•2024/09/22 07:25
BlackRock CEO Backs Bitcoin as Key Investment for Economic Uncertainty
Cryptodnes•2024/09/22 06:33
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$62,980.45
-0.12%
Ethereum
ETH
$2,591.31
+1.50%
Tether USDt
USDT
$1
-0.02%
BNB
BNB
$585.41
+0.15%
Solana
SOL
$147.08
-0.30%
USDC
USDC
$1.0000
-0.03%
XRP
XRP
$0.5958
+2.16%
Dogecoin
DOGE
$0.1080
+1.67%
TRON
TRX
$0.1518
-0.08%
Cardano
ADA
$0.3538
-0.46%
Bitget pre-market
Buy or sell coins before they are listed, including HMSTR, SCR, OGC, EIGEN, and more.
Trade now
Not a Bitgetter yet?Sign up now to embark on a journey into the crypto world!
Sign up now