Ethereum Exchange Supply Hits Lowest Since 2015: How Whale Transactions Responded

The price of Ethereum (ETH), has seen a notable uptick in recent days amid a wider market surge. According to market data, ETH crossed the $1,850 threshold on October 25th for the first time since August 15th.

Accompanying the price rise is increased on-chain activity for the world’s second largest cryptocurrency by market capitalization. Data from analytics firm Santiment shows that only 8.41% of the total supply of ETH is currently held on cryptocurrency exchanges. This is the lowest percentage going back to the genesis of the Ethereum blockchain in 2015.

Source: Santiment – Start using it today

Furthermore, Santiment noted that the number of large ‘whale’ transactions on the network hit a 6-month high. This points to renewed interest from institutional and high net worth cryptocurrency investors.

The confluence of recovering prices and spikes in on-chain activity could signal growing confidence in Ethereum’s long-term outlook. However, the cryptocurrency market remains highly volatile. ETH prices are still down substantially from their all-time high of nearly $4,900.

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.