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bearish signal ethereum exchange balances touch 3 month high

Bearish Indicator: Ethereum Exchange Balances Reach Three-Month High

Ethereum had seen its balances on exchanges decline through 2021. This happened despite continuous market rallies that sent the digital asset towards all-time highs. Investors had accumulated all through bull rallies instead of trying to dump their coins, leading to reduced supply on centralized exchanges. This was also propelled forward by the growing popularity of DeFi. However, this trend is starting to reverse as exchange balances are now on the rise.

Ethereum Exchange Balances Touch 3-Month High

New on-chain reports have shown that Ethereum exchange balances are on the rise once more. After reaching one-year lows in 2021, exchange inflows have begun to pick up, seeing balances rise to three-month highs.

read more: Source NewsBTC.com

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