This Ethereum On-Chain Data Suggests That Coin Is on Verge of Another Sell-off - BitcoinEthereumNews.com
Arman Shirinyan Unfortunately for Ethereum holds, on-chain data shows that assets still remain under pressure Following Independence Day in the U.S. on July 4th, traders have pushed the price of the second biggest cryptocurrency on the market to local highs, reaching $1,120. Unfortunately, with the price of Ether going back up, we are seeing disturbing on-chain data appearing on the merkado. According to Ethereums supply on exchanges, we are seeing an intensification of inflows on exchanges as traders are actively pushing their funds back onto trading platforms. Whenever exchange inflows are on the rise, assets face selling pressure later on. ???????????? #Ethereum‘s price has rebounded mildly to ~$1,120 on America’s birthday. This said, $ ETH ay patuloy na mabilis na lumilipat pabalik sa mga palitan at malapit nang masira ang pinakamataas na 2022. Mayroong mas mataas na panganib ng isang selloff habang ang mga barya ay tumataas sa exchange wallet. https://t.co/kJFZNCXV54 pic.twitter.com/JcmrHp80VK - Santiment (@santimentfeed) Hulyo 4, 2022 The movement of funds toward exchanges is most likely tied to the fact that market participants are looking for ways to realize their funds after the massive crash we saw in June. As Ethereums price dropped to the $800 range, the selling pressure on the market decreased significantly. It