Ethereum (ETHUSD)

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ETHEREUM EXCHANGE BALANCE ⚖️
Today we’ll be taking a look at the amount of Ethereum available for sale on exchanges.

This metric is super simple but extremely useful.

As always, here’s how to interpret the chart:

Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂

Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻

onchain
Currently there is only 12,875,352 ETH available for sale on exchanges.

That’s ~10.75% of the entire circulating supply. And it effectively puts this metric at an all time low.

(it’s been hitting new all-time lows every week forever)

In fact, as a percentage there’s even less Ethereum on exchanges than Bitcoin.

That’s insane, considering Bitcoin’s exchange balances are already exceptionally low.

And like Bitcoin, there just isn’t that much ETH available for sale.

It just goes to show how good Ethereum’s supply dynamics are right now.🐂