The Ethereum price assessment shows resilience in the market, with investors exhibiting optimism in its growth. Recent data reveals a change in behavior since a drop from $4,000 to $1,500, with continuous negative netflow on exchanges. Around 56,000 ETH are withdrawn daily, indicating a shift towards long-term storage. This trend suggests growing confidence in ETH’s long-term potential, with the current price at $4,660 and a 10% increase in the last week.
Darkfost’s analysis also highlights a 23% decrease in BTC reserves and a 20% drop in Ethereum reserves on exchanges since the year began. The decline in reserves implies investor accumulation, potentially acting as a bullish catalyst for both cryptocurrencies. Ethereum’s reserves have decreased to 17.1 million from 20.6 million, signaling a recent movement of assets away from exchanges for long-term holding.
34,660
Lunam Points