ETH mega pump coming? Ether on exchanges falls to near-decade low 📉
Ether's supply on crypto exchanges has reached its lowest level since November 2015, prompting some analysts to predict a significant price rally in the face of recent bearish sentiment.
According to Santiment, Ethereum holders have reduced the available supply on exchanges to 8.97 million, signaling potential long-term holding and price rise expectations.
Significant declines in ETH supply on exchanges suggest a potential supply shock, similar to what was observed with Bitcoin, possibly leading to price surges if demand remains strong.
While some traders foresee ETH reaching $8,000 to $10,000, others highlight bearish signals, such as its poor performance against Bitcoin and recent outflows in spot Ether ETFs.
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