Accéder au contenu principal

Over 200,000 Ethereum Tokens Sent To Centralized Exchanges – A Threat To ETH Price?

Following a relatively quiet start to the week, Ethereum’s price seems to have returned to some of its early December promises. However, the latest on-chain revelation shows that the “king of altcoins” might be facing some uncertainty over the coming the coming weeks.

A massive amount of ETH has made its way to centralized exchanges over the past few days, resulting in a spike in the Ethereum balances of these platforms.

200,000 ETH Sent To Exchanges In Four Days – What’s Next?

In a post on the X platform, a crypto pundit revealed that investors have been moving massive amounts of Ethereum to centralized exchanges over the past few days. This on-chain revelation is based on the “Balance On Exchanges” metric from data analytics platform Glassnode.

According to the data from Glassnode, around 200,000 ETH (worth more than $460 million) have been transferred to known cryptocurrency exchange wallets in the past four days. When most cryptocurrencies are sent to centralized exchanges, it typically suggests that some investors might be looking to offload their assets.

Total balance of Ethereum on all crypto exchanges | Source: Ali_charts/X

Exchange inflows can be an indication of sell-offs, as investors often use these centralized exchanges for the purpose of selling assets. Consequently, the transfer of massive crypto amounts to these platforms could trigger downward pressure on the price of a crypto (Ethereum, in this case).

Moreover, the crypto pundit noted in their post on X that a substantial spike in exchange inflows could indicate upcoming price volatility for ETH. This implies that there is an increased likelihood of big price swings in the near future.

Ethereum Price Overview 

However, it is worth noting that there has not been any clear impact on Ethereum’s price so far. As of this writing, the cryptocurrency is valued at $2,287, reflecting a mere 1.4% price growth in the past 24 hours.

On the weekly timeframe, the price of ETH has also been quiet, with barely a percent increase in the past seven days. This emphasizes the altcoin’s struggles to hold above $2,300 despite making it above the price mark on Friday, December 22.

Nevertheless, Ethereum maintains its position as the second-largest cryptocurrency in the sector, with a market capitalization of more than $274 billion.

Ethereum

Ethereum price faces rejection at $2,300 on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from Bernard Marr, chart from TradingView




Source link

The post Over 200,000 Ethereum Tokens Sent To Centralized Exchanges – A Threat To ETH Price? appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite

Earn BIG Commissions in 2023

In this post, we’re looking at the best niches for affiliate marketing . So, if you’re struggling to choose a niche for your blog or YouTube channel, this list will help. In this list, you’ll learn some key information to help you determine which is the right niche to choose for you. Information like: How big the niche is and its market share The products you can promote Sub niche ideas And some commission rates you can expect Keep reading. Best Niches for Affiliate Marketing We’ve researched and broken down 21 of the best niches for affiliate marketing, so you don’t have to. Let’s dive in. 1. Artificial Intelligence The Artificial Intelligence industry has exploded in recent years and is projected to be valued at close to US$2 trillion by 2030. That’s what makes this one of the best niches for affiliate marketing today. There is also a wide range of AI tools to promote with generous commissions. For example, LinkWhisper is an AI content optimization tool for SEO of...
Enregistrer un commentaire
Lire la suite