Ether’s supply on crypto exchanges has dropped to its lowest level since November 2015, leading some analysts to predict a major price rally despite recent bearish sentiment.
“Ethereum’s holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015),” crypto analytics platform Santiment said in a March 20 X post.
Ether’s supply on crypto exchanges has reached its lowest point since November 2015. Source: Santiment
Santiment said ETH had been rapidly leaving crypto exchanges, with balances now 16.4% lower than at the end of January. This suggests that investors are moving their ETH into cold storage wallets for long-term holding, potentially holding more conviction that Ether’s (ETH) price will rise in the future.
A significant decline in ETH supply across crypto exchanges can signal a potential price surge soon, commonly known as a “supply shock.” However, a surge will only happen if demand remains stro
