Many different statistics can indicate whether a blockchain or crypto project is moving in the right direction. The current Ethereum balance across trading platforms is reaching rather high levels, yet the price action isn’t slowing down.
Storing crypto assets on an exchange is often asking for trouble.
Ethereum is a hot Commodity Once Again
These platforms are not designed for users to store funds during longer periods of time.
Even so, a lot of users tend to move money to an exchange when the price of said asset is moving up.
In the case of Ethereum, the recent price movement is making more holders eager to sell.
Interestingly enough, the price isn’t dropping because of this balance increase.
According to recent statistics, the ETH balance on exchanges has hit the highest level in about three years.
This doesn’t mean that Ethereum will see massive sell pressure, or buying pressure for that matter.
With nearly 14.5% of the entire Ethereum supply in trading platform wallets today, there will undoubtedly be some very interesting momentum to look forward to.
How this will affect the future of Ethereum 2.0, is anyone’s guess.
With a looming switch to proof-of-stake, one would expect more holders to stock up on ETh, rather than liquidate their holdings.
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