Ether ($ETH), the second-largest cryptocurrency by market cap has been on a phenomenal run over the past couple of weeks and reached a new ATH of $4,197 yesterday. Amid growing demand from institutions and record market dominance currently above 19%, the ETH balance on centralized exchanges dipped to a 2-year low. The continuous dip in the market supply of Ether amid growing demand is a key reason behind surging prices.
Over the past 24-hours, the net outflow of Ether from exchanges is more than Bitcoin at $3.1 billion against the $1.9 billion inflow. Ether has more than tripled its 2017 ATH price of $1,260 and its year on return is currently much higher than Bitcoin.
Daily On-Chain Exchange Flow#Bitcoin $BTC $3.1B in $3.0B out Net flow: +$183.4M#Ethereum $ETH $1.9B in $3.1B out Net flow: -$1.2B#Tether (ERC20) $USDT $2.4B in $1.9B out Net flow: +$565.2Mhttps://t.co/dk2HbGwhVw
— glassnode alerts (@glassnodealerts) May 11, 2021
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Źródło: https://coingape.com/eth-balance-on-exchanges-touch-2-year-low-whats-next/
