Connect with us

Hi, what are you looking for?

ELEVENEWS

Ethereum

Reports suggests some exchanges are running low on ETH

Data suggests that various cryptocurrency exchanges may be running low on ETH reserves as the cryptocurrency market bull run continues into the new year.

A number of publications have published reports from data and analytics as well as notes from respectable analysts suggesting that some major cryptocurrency exchanges could be running out of ETH.

Cointelegraph noted data from analytics firm CryptoQuant that shows a sharp drop in the amount of ETH being held by exchanges. The graph below demonstrates the steep decline in ETH held in cryptocurrency exchange wallets.

Alex Saunders, an Australian investor and founder of Nugget News, highlighted the data from Cryptoquant on Twitter suggesting that demand will continue to boom and supply could dry up in the next few weeks:



eToro warns traders it could enforce trading limits

Cryptocurrency exchange eToro has also notified its users that it may have to enforce trading limits due to ‘extreme market conditions’ that have been driven by a massive influx of users looking to enter the cryptocurrency markets.

As Decrypt reported, eToro has had more than 380,000 new signups on its platform since the start of 2021 and warned of liquidity issues in the near term as new users enter the cryptocurrency fray.

Renowned cryptocurrency analyst, trader and Quantum Economics founder Mati Greenspan also noted eToro’s announcement – which sparked plenty of debate in the comments.

Ethereum is continuing to test a new all-time high amid growing interest from traders. As the Daily Chain recently reported, the second most valuable cryptocurrency by market capitalization also surpassed previous records for search hits on Google.

News Source

Advertisement
Advertisement

Copyright © ELEVENEWS