Ethereum Supply Shock Looms as Cardano Tests Breakout Toward $1, Says Analyst
1
0
- Ethereum exchange balances drop to their lowest levels since 2018 amid institutional accumulation.
- BlackRock reportedly pressures the SEC to approve an ETH staking ETF within two weeks.
- Cardano approaches multi-year resistance while testing the 200-week moving average support.
Ethereum is approaching a potential supply shock as exchange reserves have fallen to their lowest levels in seven years, according to analyst Dan Gambardello. The decline in available ETH on centralized exchanges has created conditions that could drive major price movements if demand increases.
Exchange data shows ETH balances have reached lows not seen since 2018. The data shows sustained withdrawal activity by both retail and institutional investors. This pattern usually precedes major price rallies as available supply for purchase becomes constrained while demand remains steady or increases.
The post Ethereum Supply Shock Looms as Cardano Tests Breakout Toward $1, Says Analyst appeared first on Coin Edition.
1
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
0
0
0
0
