Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ETHEREUM NEWS»Ethereum Exchange Balances Decline Sharply, Impact on ETH Price
ETHEREUM NEWS

Ethereum Exchange Balances Decline Sharply, Impact on ETH Price

By Crypto FlexsDecember 20, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum Exchange Balances Decline Sharply, Impact on ETH Price
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum is currently hovering around $2,200 and the price has experienced quiet volatility over the past seven days. New data from Santiment has revealed the current sentiment among Ethereum whale addresses as total supply on exchanges recently hit a new low. According to the on-chain analytics platform, more than 240,000 ETH left 10 of the largest ETH exchange wallets in the last 24 hours.

As a result, the cumulative number of ETH deposited on cryptocurrency exchanges decreased from 8.03 million ETH to 7.79 million ETH in one day, one of the largest ever. With the price of ETH currently hovering around $2,200, this means a loss of over $528 million in ETH value on exchange balances.

Ethereum exchange supply plummets

Ethereum It is currently down 1.74% in the last 24 hours. Test the breakthrough again The level of approximately $2,200 appears to have become a support level. However, the sharp decline in Ethereum balances on exchanges is a very positive sign for ETH. As less ETH becomes available on exchanges, the supply also decreases.

ETH whales have been on a buying spree since the beginning of the month, with many expecting a prolonged bull market at the dawn of the new year. Source of data Into the Block Over the past 30 days, exchange outflows have increased by 98.52%. alone last weekThe whale purchased over 100,000 ETH worth $230 million.

This sentiment has continued into this week, with 240,000 ETH leaving exchanges in 24 hours, reducing coins held on exchanges by 2.99%. According to Santiment, only 8.07% of Ethereum’s total supply is currently on exchanges, which is an all-time low.

👍As #EthereumThe market value of is just above $2,170, with the largest exchange wallets continuing to move their coins to smaller wallets or off exchanges altogether. 240K $ETH In just 24 hours, there was a total transfer from these wallets, reducing their coin holdings by 2.99%. https://t.co/Fw7lKcVZan pic.twitter.com/AMFPDL4BXp

— Santiment (@santimentfeed) December 19, 2023

ETH failed to break out of the $2,250 price level, falling to $2,120 in the late hours of December 19. As of this writing, ETH is currently trading at $2,208. The price action suggests the cryptocurrency has yet to gain strong traction among retail investors and a retest is underway.

According to cryptocurrency analyst Ali Martinez, Ethereum is bouncing around a breakout area in an ascending triangle. If this consolidation continues, we could see a price range between $2,150 and $1,900 before reaching the $3,500 target.

#Ethereum It is currently retesting the breakout area in the ascending triangle, hinting at preparations for further upside.

The price range between $2,150 and $1,900 can be an ideal area to accumulate transfers. #ETH I set a higher goal of $3,500. pic.twitter.com/6lGZT0ZKgv

— Ali (@ali_charts) December 20, 2023

Ethereum has risen 82.67% this year and the outlook for 2024 is bright. still optimistic. According to cryptocurrency analyst Altcoin Daily, ETH’s path to $10,000 could be I think it’s clear nowpending Ethereum Spot ETF This is the main catalyst for price increases.

ETH bulls continue to maintain control | Source: ETHUSD on Tradingview.com

Featured image from Cointribune, chart from Tradingview.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

Bitcoin is more than $ 104K as the merchant’s eyes move from H2 to $ 145,000.

June 20, 2025

Can Etherrium price return to $ 4,000? Analysts say that ETH should go beyond this support.

June 16, 2025
Add A Comment

Comments are closed.

Recent Posts

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025
Most Popular

15 Golden Rules That Helped a Crypto Trader Earn $3 Million in Profits

April 25, 2024

Crypto analyst shares bullish insights on Chainlink as users accumulate 295 million LINK.

December 3, 2023

Is this threatening the Solana ecosystem? Yes, but SOL is safe because:

May 5, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.