Ethereum Shows Deeply Negative Netflows As Exchange Reserves Fall

2021-7-16 22:00

Ethereum netflows seem to be negative across all exchanges right now, as exchange reserves continue their downward trend.

Ethereum Reserves On A Downtrend

As pointed out by a CryptoQuant post, ETH reserves continue with a downward trajectory. The all exchange netflows are also very red.

The Ethereum all exchanges reserve is an indicator that shows the total number of coins held in wallets of all exchanges.

When the metric goes up in value, it means more investors have their ETH on exchanges for selling, altcoins purchasing, or margin trading.

Here is how the Ethereum all exchanges reserve looks like at the moment:

ETH all exchanges reserve continues to fall down

 

The above chart makes it clear that Ethereum all exchanges reserve has been continuing its downtrend since the past few months.

The latest downward curve seems to show quite a sharp trajectory. A decrease in the exchange reserves should mean there isn’t much selling pressure in the market. If this steep downtrend continues, the price could go up.

The other indicator of interest is the Ethereum all exchanges netflow. The netflow is defined as just the difference between the exchange inflows and the exchange outflows.

The exchange inflows is the value of the ETH being sent into exchange wallets from personal addresses. While outflows are the opposite.

Related Reading | Ethereum Whales Go On Buying Spree, Top 10 Addresses Now Own 20% Of All ETH

All Exchanges Netflow = Inflows – Outflows

Below is a chart that shows the latest trends in the value of the ETH all exchanges netflow.

ETH all exchanges netflow shows deep red

As the graph shows, the last few days show negative all exchanges netflow for Ethereum. This means more investors are sending their ETH to personal wallets from exchange wallets than the other way around.

Related Reading | TA: Ethereum (ETH) Recovery Faces Hurdles, Why Bears Remain In Control

When the value of the indicator goes up, it means investors want to sell of their crypto. On the other hand, a decrease like what’s happening right now should mean there isn’t much selling pressure.

ETH Price

Ethereum is down more than 12% in the past week as the crypto’s value floats just under $1.9k. Compared to one month ago, the price is 27% less.

Here is how the price chart looks like over the last 6 months:

Ethereum price seems to on a downward trend | Source: ETHUSD on TradingView

ETH’s value has been going down since sometime now, with no sign of recovery. It’s unclear whether the market is bearish or not right now. If the exchange netflows are anything to go by, a deep negative trend could mean the price might go up soon.

Featured image from Pexels.com, charts from TradingView.com, CryptoQuant

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2944.79 (-0.20%)
Объем 24H $12.126b
Изменеия 24h: -2.16 %, 7d: -2.76 %
Cегодня L: $2927.03 - H: $2954.85
Капитализация $353.729b Rank 2
Цена в час новости $ 1910.65 (54.13%)

reserves ethereum negative downward exchange continue netflows

Источник: newsbtc.com

reserves ethereum → Результатов: 52


Фото:

Trading Exchange Okex’s Crypto Reserves Nosedived After Withdrawals Opened

Just recently, after the exchange paused cryptocurrency withdrawals, the trading platform Okex finally enabled digital currency withdrawals last Wednesday. Since then, the exchange seems to be experiencing an exodus of funds leaving, as onchain data shows Okex’s crypto-asset reserves like bitcoin, ethereum and tether have depleted considerably during the last ten days.

2020-12-7 02:00


Фото:

New gold-backed Ethereum token is guaranteed by Australian government reserves

Australia‘s Perth Mint, one of the world’s largest refineries, is today launching a gold-backed Ethereum token guaranteed by the government of Western Australia. Marketing materials shared with Hard Fork claim the Perth Mint Gold Token (PMGT) is the first gold token on a public blockchain backed and guaranteed by government reserves.

2019-10-10 15:59


Фото:

New Ethereum token is backed by gold reserves guaranteed by Australian government

Australia‘s Perth Mint, one of the world’s largest refineries, is today launching a gold-backed Ethereum token guaranteed by the government of Western Australia. Marketing materials shared with Hard Fork claim the Perth Mint Gold Token (PMGT) is the first gold token on a public blockchain backed and guaranteed by government reserves.

2019-10-10 15:59


Фото:

Venezuela Formally Confirms Sanction-Skirting Cryptocurrency Payment System

Venezuelan President, Nicholas Maduro, has confirmed rumors that the country is launching a cryptocurrency-based payment network for domestic and international payments. An even more exciting development from here is that the country is looking to accept Bitcoin and Ethereum from a state-owned petroleum company which they will hold as a part of their monetary reserves,Read MoreRead More.

2019-10-2 01:00


Venezuela to add Bitcoin and Ethereum in central bank’s reserves

Venezuela, the country that currently suffers from hyperinflation, is reportedly taking steps to adopt cryptocurrencies. The information was highlighted through a tweet from @PattyLaya, which translated to, “Exclusive: Venezuela is conducting internal tests to determine if it can save cryptocurrencies in the central bank’s reserves, helping PDVSA download recent payments in Bitcoin and Ethereum” According […] The post Venezuela to add Bitcoin and Ethereum in central bank’s reserves appeared first on AMBCrypto.

2019-9-27 23:00


дальше еще 3 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Plummeting Bitcoin Exchange Reserves Show Investors Are Not Ready To Sell

Bitcoin exchange reserves are a good way to gauge investor sentiment in the market. It can show when investors are ready to sell, meaning that they believe the asset has hit an overvalued point. Likewise, it can show when investors are holding on to their bags and expecting the price of the digital asset to rally.