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.
Crypto trader Crypto General told their 230,800 X followers that it is “Just a question of time before the big supply shock.”Crypto commentator Ted said in a March 19 X post that with ETH supply on crypto exchanges decreasing by the day, “buyers will soon compete, leading to bidding wars.”Related: ‘Successful’ ETH ETF less perfect without staking — BlackRockMeanwhile, crypto trader Naber said in an X post on the same day that the largest ETH accumulation is taking place, and it may lead to Ether reaching the $8,000 to $10,000 price range.
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 strong or increases to outpace the reduced supply.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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