#ETH Breaks $4,600#


One of the key indicators during an asset's growth period is the reserves on exchanges, that is, the total amount of ETH on centralized platforms. High reserves create selling pressure. Low reserves restrict supply, which can quickly drive up prices during a surge in demand.
On July 31, Ethereum reserves on exchanges reached a record low of 18.72 million ETH. As of August 12, they remain around this level — 18.85 million ETH, despite a sharp rise in ETH. It is important: although the price is approaching multi-month highs, buyers are still outpacing sellers. Despite aggressive selling of ETH, low token reserves on exchanges allow buyers to quickly outpace sellers.
The price of ETH has traditionally faced difficulties in rising when exchange reserves have sharply increased. Currently, they remain at a record low, and the price is close to overcoming the last significant resistance. This indicates a strong interest in buying in the spot market.
ETH1.83%
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Discoveryvip
· 08-13 05:02
Watching Closely 🔍
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Discoveryvip
· 08-13 05:01
Watching Closely 🔍
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