Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency
  • News

Bullish: Ethereum (ETH) Exchange Supply Ratio Hits Lowest Since 2018

Solomon Odunayo January 17, 2021 3 min read
How Layer 2 Is Primed To Solve Scalability Issues of Ethereum before the Launch of ETH 2.0

The proof that there has been a drastic decrease in the selloff of Ethereum (ETH) via exchanges has just been shared by the blockchain analytics firm, Santiment.

The report stated that the supply ratio of Ethereum (ETH) on exchanges has hit the lowest since 2018.


trade now

The current bull cycle has taken Bitcoin (BTC), the largest cryptocurrency by market cap, past its price all-time highs, while Ethereum (ETH), the second-largest digital currency, is inching closer to break price records.

Read Also: Users to Earn With BTC, XRP, LINK, and Four Others on This New Decentralized Finance (DeFi) Platform

So, the metric recently provided by Santiment is bullish for Ethereum’s further upside trend. It indicates that ETH holders now prefer to keep their assets for a long time.

Ethereum (ETH) Exchange Supply Ratio Is Dropping Significantly

Ethereum’s supply ratio measures the amount of available ETH on crypto exchanges. It continues to drop, reaching levels not seen since 2018

Santiment tweeted, “The ratio of Ethereum tokens sitting on exchanges continues to decrease & move to offline holder wallets. At just 22.06% of tokens on exchanges compared to 26.33% five months ago, this continues to be one of the most promising signs for $ETH bulls.”

🪙👉👛 The ratio of #Ethereum tokens sitting on exchanges continues to decrease & move to offline holder wallets. At just 22.06% of tokens on exchanges compared to 26.33% five months ago, this continues to be one of the most promising signs for $ETH bulls. https://t.co/I7208xh9Xa pic.twitter.com/ikKLRJVNrL

— Santiment (@santimentfeed) January 17, 2021

Read Also: Vitalik Buterin Showcases ‘Love and Hate’ for the Influx of DeFi

The data presented suggest that Ethereum will continue to move off exchanges. It most likely ends up in wallets where it will be held or spent as gas for decentralized finance (DeFi) or other decentralized apps (dApps)

Users may be transferring ETH to cold storage wallets as long term investments. On the other hand, they could be using it to facilitate a variety of other applications based smart contract.

Decentralized Finance (DeFi) Drives Users to Ethereum (ETH)

In 2020, there was a breakout in the use of decentralized finance (DeFi). The total value locked (TVL) grew from $600 million to around $25 billion. This development increases the demand for ETH, the digital token that acts as gas for the Ethereum ecosystem.

Read Also: Amidst Bitcoin Recent Price Surge, Crypto Whales Are Busy Hodling These Six Ethereum-Based Digital Assets

This record growth in the use of DeFi aided the Ethereum network to attain yearly record highs for transaction fees generated. Due to this performance, Ethereum was able to overtake Bitcoin by 83% in 2020. This increased use in DeFi implies that users needed more ETH to complete their transactions.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: This New Report Reveals How Ripple Will Defend XRP and Itself against the U.S. SEC
Next: KIN Surged 2,000% After Surviving SEC’s Battle. How Far Could XRP Surge In Similar Scenario?

Related Stories

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,767.00
0.63%
ethereum
Ethereum (ETH)
$2,009.94
0.36%
tether
Tether (USDT)
$1.00
-0.05%
binancecoin
BNB (BNB)
$329.68
0.19%
usd-coin
USD Coin (USDC)
$1.00
-0.07%
cardano
Cardano (ADA)
$0.59
5.36%
ripple
XRP (XRP)
$0.391891
2.57%
Binance USD
Binance USD (BUSD)
$1.00
0.05%
polkadot
Polkadot (DOT)
$9.49
-0.49%
dogecoin
Dogecoin (DOGE)
$0.079036
7.57%

Recent Posts

  • What is a Bear Trap in Trading and How Does It Work?
  • FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
  • All You Need To Know About Virtual Asset Service Provider (VASP)
  • Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
  • Nvidia Launches New Developer Tools To Up Its Metaverse Bet
  • Velocity Trade Review – Is Velocity Trade Scam or a Proper Broker?
  • Blockchain vs. Database: How Do They Differ?
  • Paper Wallets: How To Secure Your Crypto Assets
  • New Report Says Nigeria Has Become the Most Crypto-obsessed Country
  • Institutional Demand for BTC Is Insatiable, Says Kevin O’Leary
  • Money-Laundering And Wash Trading In NFTs – All You Need To Know
  • Alfabtc Review – Is Alfabtc Scam or a Proper Broker?
  • Ethereum Whales Holding SHIB Remain Undefeated, but Here’s the Catch
  • Here’s Why Celsius (CEL) Gained 109% Within a Month
  • Security Tokens Vs Utility Tokens: How Do They Differ?

Categories

You may have missed

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers News and Reviews

FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%