Ethereum [ETH] astonished investors with its latest bull rally that allowed it to surpass the $18,000 mark.
Ethereum’s supply on exchanges reached the lowest level since 2015 in the recent past. The token’s price plummeted by 2% in the last 24 hours.astonished investors with its latest bull rally that allowed it to surpass the $18,000 mark. In fact, during that period, ETH’s supply on exchanges hit a historic low level. However, the weather was changing as the king of altcoins’ price witnessed a price correction over the last few hours.
As the crypto market gained bullish momentum, Ethereum, being the top altcoin, registered a promising uptick. In fact, in just the last seven days, ETH’s price rose by more than 12%. While the token’s price surged, investors continued to buy ETH.’s supply on exchanges hit a record low. To be precise, Ethereum’s supply on exchanges has reached the lowest level since Genesis in 2015, suggesting that investors continued to stockpile., ETH was down by more than 2% in the last 24 hours.
Its MVRV ratio also remained high. Additionally, its network growth was high last week. It meant that more new addresses were created to trade the token over the last seven days.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.
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