Although Ethereum (ETH) has lost 26.5 percent in the last month, the rapid decrease in the supply of stock exchanges attracts the attention of investors. The amount of ETH in the stock market has declined to its lowest level since November 2015, which suggests that there may be a potential “supply shock” in the market.
Ethereum withdraws from stock exchanges
Crypto Analysis Platform centimeted, Ethereum’s supply in stock exchanges has fallen to 8.97 million ETH levels, and this is the lowest level of almost 10 years. According to the data, ETH supply has decreased by 16.4 %since the end of January, which shows that investors carry their coins to cold wallets for long -term storage.
Generally, withdrawing large amounts of crypto money from the stock markets, reducing sales pressure, preparing the ground for the rise of the price. However, in order to realize this rise, the demand for Ethereum must be strong. A similar scenario in Bitcoin was experienced in January and the price of the supply in the stock exchanges rose to $ 109,000 after the decrease in the supply.
The expectation of supply shock for ETH is increasing
Crypto analysts say Ethereum’s current supply levels may soon lead to a major supply shock. Crypto Trader Crypto General, “This is just a matter of time, the great supply shock is at the door”made a statement in the form.
TED, another market commentator, argued that if the demand increased, there would be a harsh competitive environment in ETH price and the price could move upward. The decreasing supply in the stock exchanges may initiate a “proposal war önemli between buyers, which can rapidly increase the value of Ethereum.
Can Ethereum reach $ 8,000?
The crypto phenomenon claimed that Ethereum is currently in a major accumulation phase and the price could reach $ 8,000 to 10,000 dollars. If ETH reaches $ 8,000, it means an increase of 64 %compared to the $ 4,878 summit in November 2021. However, the lowest levels of Ethereum to Bitcoin causes some question marks among investors. In addition, the output of $ 370 million in Spot Ethereum ETFs for 12 days in a row shows that investor confidence cannot be fully achieved.
Ethereum’s price movement and supply dynamics will show how the direction to determine the market in the coming days. If the receiver interest increases, the price of Ethereum may reach new peaks, but if the demand remains low, the decrease pressure may continue.
