coinpedia
2024-06-03 07:20:44

$3B ETH Withdrawal Signals Potential Supply Squeeze for Ethereum

The post $3B ETH Withdrawal Signals Potential Supply Squeeze for Ethereum appeared first on Coinpedia Fintech News Following the approval of spot ETH ETFs on May 23, 797,000 ETH worth over $3 billion has been withdrawn between May 23 and June 2, signaling a potential upcoming supply squeeze. The significant reduction in exchange reserves suggests that investors are transferring their Ether to self-custody solutions, preferring holding over immediate selling. The decrease in …

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.