With the launch of the Ethereum spot ETF approaching, many institutions and whales are also buying and hoarding ETH.
After the SEC approved the 19b-4 application for the Ethereum spot ETF on May 23, the Ethereum reserves of centralized exchanges decreased by 797,000 coins, worth about $3.02 billion, between May 23 and June 2. The decrease in exchange reserves means a reduction in the number of tokens available for sale. The proportion of circulating supply of ETH held by centralized exchanges has dropped to the lowest level in years, currently only 10.6%. This means that as the available supply of ETH tightens, the price of ETH is expected to rise significantly. #币圈观察员 #ETH会延续BTC ETF通过后的大涨趋势吗?
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With the launch of the Ethereum spot ETF approaching, many institutions and whales are also buying and hoarding ETH.
After the SEC approved the 19b-4 application for the Ethereum spot ETF on May 23, the Ethereum reserves of centralized exchanges decreased by 797,000 coins, worth about $3.02 billion, between May 23 and June 2. The decrease in exchange reserves means a reduction in the number of tokens available for sale.
The proportion of circulating supply of ETH held by centralized exchanges has dropped to the lowest level in years, currently only 10.6%. This means that as the available supply of ETH tightens, the price of ETH is expected to rise significantly.
#币圈观察员 #ETH会延续BTC ETF通过后的大涨趋势吗?