Ethereum Price Climbs As Exchange Balances Drop Below 10%
The post Ethereum Price Climbs As Exchange Balances Drop Below 10% appeared on BitcoinEthereumNews.com.
Ethereum has seen a notable uptick of 3% in the past seven hours, bringing its current trading price to $2,654. 📍 For the first time ever, the $ETH balance on exchanges has dropped below 10%. There is a HUGE difference in the balance of #Ethereum vs. #Bitcoin on exchanges. 👀 pic.twitter.com/GQNlyhE6Ru — Crypto Rand (@crypto_rand) August 20, 2024 This surge comes as the amount of Ethereum held on exchanges has dropped below 10% for the first time, highlighting a significant shift in market dynamics. Ethereum surge to 3% increase in the last 7 hours, currently trading at $2,654 What is your $ETH prediction before the end of August? pic.twitter.com/rBkvnfokgC — alex. (@Aleex) August 20, 2024 The contrast between Ethereum and Bitcoin’s exchange balances is stark, underscoring Ethereum’s decreasing liquidity on trading platforms. This shift reflects growing confidence in Ethereum and possibly a trend towards holding rather than trading. In a notable move, Ethereum co-founder Vitalik Buterin has transferred over $1 million worth of ETH to the Railgun protocol. Railgun employs zk-SNARKs to enhance transaction privacy on the Ethereum network, and Buterin’s endorsement has sparked discussions about the balance between improved privacy and potential risks of misuse in blockchain transactions. Vitalik Buterin has moved more than $1 million worth of ETH to the privacy-centric Railgun protocol, which leverages zk-SNARKs to bolster transaction privacy on the Ethereum network. His endorsement of Railgun has ignited a debate surrounding the balance between enhanced privacy… — Bitcoinsensus (@Bitcoinsensus) August 20, 2024 Ethereum Spot ETFs Saw Notable Outflow On August 19th Meanwhile, Ethereum spot ETFs experienced a net outflow of $13.517 million on August 19. Grayscale’s ETHE saw an outflow of $20.3032 million, while the Grayscale mini ETF ETH recorded an inflow of $4.9152 million. Despite these movements, the total net asset value of Ethereum spot…
Filed under: News - @ August 21, 2024 8:23 am