Ethereum’s Non-Exchange Vs Exchange Gap Hits New ATH; Here’s What It Means

Olivia Brooke
April 11, 2022
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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The gap between Ethereum’s top-10 exchange addresses, against its top 10 non-exchange addresses has hit a new ATH. This is according to data from on-chain analytics platform Saintment.

What does this mean for Ethereum?

This climb continues pointing to a greater proportion being kept away from exchange sell-off risk.

Saintment noted. The data surfaces shortly after balances on Ethereum exchanges hit the lowest levels since July 2018. Meanwhile, Ether’s price has taken a hit, after recording a notable surge in price. During the first weeks of April, Ethereum (Ether), hit a new high of $3,573.

Ether bulls were able to a us gain momentum above $3,500 for a short period, before the price decline, that has sent the asset to its press time price of $3,182. Ether’s 7-days consecutive losses are over 9%.

Market remains largely bullish for Ethereum (ETH)

Despite Ether’s downward price movement, market ok at Wes are vs full largely bullish for Ethereum. The collective sentiment amongst Ether proponents is that the upcoming Ethereum merge, which is scheduled for the second quarter of 2022, will trigger Ether bulls.

The Ethereum merge will see the network go from a Proof-of-work model, to a proof-of-stake model. With the merge comes a decline in Ethereu’s supply. Ethereum mining will also become a thing of the past.

Billionaire Mark Cuban, a well-known Ethereum proponent, has recently expressed that he’s especially looking forward to less Ethereum insurance, as well as how much of a deflationary asset Ether will become.

Popular Cryptocontent creator and investor Ben Armstrong, also highlighted the significance of the merge.

We may range for a couple more months but make no mistake, our final stand is the ETH Merge. If that isn’t enough to gain bullish momentum then 2022 could get ugly he said, in a recent tweet.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Olivia’s interests spans across the Cryptocurrency and NFT and DeFi industry. She remains as fascinated by cryptocurrencies today, as she was back in 2017, when she first started reading up about them.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.