6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod

As more and more investors choose to keep their Ethereum assets frozen rather than actively selling them, the Ethereum ecosystem suddenly finds itself severely short of supplies. The second-largest cryptocurrency in the world could face serious challenges going forward depending on the planned behavior of market players. Related Reading: Analyst Upbeat On USTC, Sees Price Soaring Over 300% Ethereum Supply Tightens Up The first sign of this supply gap came earlier this month when an unknown market player moved a staggering 6,400 Ethereum to the Beacon Chain depositor wallet. The Beacon Chain, which checks recently added blocks to the network, is the basis of Ethereum 2.0 This big action suggests that investors might be inclined to lock down their ETH holdings instead of aggressive trading.

Jul 12, 2024 - 22:00

6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod

As more and more investors choose to keep their Ethereum assets frozen rather than actively selling them, the Ethereum ecosystem suddenly finds itself severely short of supplies. The second-largest cryptocurrency in the world could face serious challenges going forward depending on the planned behavior of market players.

Ethereum Supply Tightens Up

The first sign of this supply gap came earlier this month when an unknown market player moved a staggering 6,400 Ethereum to the Beacon Chain depositor wallet. The Beacon Chain, which checks recently added blocks to the network, is the basis of Ethereum 2.0 This big action suggests that investors might be inclined to lock down their ETH holdings instead of aggressive trading.