 | The graph represents the correlation between ETH that is reserved in all the exchanges (Purple Line) and its price (Black Line) and we can right away see a pattern; As the ETH supply flows away from exchanges, the price of ETH goes up. But now look at that huge drop from only a few days ago (The one I circled) . That is the biggest withdrawal of ETH from exchanges that we've seen in the last couple of years. So what happens when the demand for ETH keeps increasing (Gas, DeFi, NFTs, etc.) and the supply on exchanges keeps decreasing? Well, the price goes up. But what happens when that supply decreases so abruptly? We could end up with supply shock, which in theory could catapult the price of ETH into new all-time-highs. [link] [comments] |
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