Ethereum rebounds above $3,000 price marketbullish sentiment is gaining momentum among investors, especially those on centralized exchanges. Even though the market is experiencing sideways movement, the overall supply of ETH on cryptocurrency exchanges has declined sharply, reaching unprecedented levels.
Minimum supply of Ethereum on exchanges
Recent signals from on-chain metrics include: Ethereum Although the market environment is quiet, it is undergoing major changes. The development of this trend is due to the sharp decline in the supply of ETH available on crypto exchanges.
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as reported According to social media platform X Coin Bureau, ETH supply on centralized exchanges has reached levels not seen in years. This significant outflow signals a change in investor behavior, with more holders choosing long-term storage, staking, and self-custody rather than keeping their assets available for trading.
data from Exchange ETH balance percentage This indicator shows a total of 8.7% of the Ethereum supply available on exchanges, marking the lowest level since ETH’s inception in 2015.
As foreign exchange reserves dwindle, structural pressure on the circulating supply of ETH is increasing, potentially creating a scenario where the price environment becomes more explosive. Coin Bureau said several crypto analysts are now warning that a liquidity crunch could be a concern. spark a powerful rally when demand recovers.
Medium-sized whalers still exist on the market
Despite the rapid withdrawal of ETH from exchanges, it shows that there is still some selling pressure in the market. Ethereum accumulation heat map. After researching metrics from Alpharactal, an advanced investment and on-chain data analytics platform. not covered Wallet addresses holding between 1,000 ETH and 10,000 ETH, i.e. mid-sized whales, are releasing their holdings, indicating weakening sentiment within the group due to ongoing market fluctuations.
According to this indicator, these investors made heavy distributions right near the price highs. While other groups celebrated at all-time highs, it was this group that capitalized on the euphoria and secured profits.
What’s interesting is that these investors are still selling, putting strong bearish pressure on the market, which is likely fueling the current bearish wave. Meanwhile, the wallet address holds at least 10,000 ETH or Mega whale owner It remains a fairly neutral and relatively mild distribution, indicating no panic or aggressive buying, at least for now.
These trends suggest that supply behavior is not fully consistent with retail investors’ euphoria. these accumulation And the distribution pattern is essential to evaluating who is actually causing ETH price fluctuations. It also determines who is quietly heading for the exit and who is still inside.
As of this writing, ETH price is trading at $3,135, marking an increase of over 3% in the past 24 hours. Bullish sentiment appears to be coming back strongly, as evidenced by the over 142% increase in trading volume over the past day.
Featured image from Freepik, chart from Tradingview.com
