Ether reserves on exchanges hit 9-year low as supply shrinks
Diminishing Ether supply on exchanges may signal an incoming price rally driven by a “supply shock,” which occurs when strong buyer demand meets decreasing available ETH.
Update Feb. 18, 1:52 p.m. UTC: This article has been updated to include quotes from Bitget COO Vugar Usi Zade.
Ether reserves across centralized exchanges hit an almost nine-year low, reinforcing investor optimism for a potential market bottom that may start a recovery toward the $3,000 psychological mark.
Ether (ETH) reserves across all exchanges fell to 18.95 million on Feb. 18, marking their lowest level seen since July 2016 when Ether was trading around $14, CryptoQuant data shows.
