Ethereum (ETH) could be a further sell-off. At least the Balances of the Exchange Wallets suggest. The amount of Ethereum on the big Exchange Wallets has exceeded the previous peak in December 2018. At that time, the ETH rate fell to 83 USD.Is really a further sell-off? What are the Intentions behind the increasing amount of ETH on the Wallets of big exchanges?
Ethereum on Exchange Wallets reached a new High
Ethereum investors pull more of their Coins to the Wallets of big Exchanges. Currently, 14.5 million ETH total on Central Exchanges. More than 13% of all Ethereum, which are in circulation. In General, tokens will be transferred to an Exchange, if they are to be sold. On the other hand, Coins from one Exchange to be transferred to your own Wallet, if they are to be kept longer.The increase in Ethereum to the Exchange Wallets shows the increased anxiety of the investors that suffered in the Wake of the Coronavirus in the last weeks heavy losses. It is likely that the ETH will not be sold directly, but, rather, for safety’s sake, on an Exchange to be transferred to a further fall in the share price to react quickly.
$ETH deposits on exchanges have exceeded the previous high when $ETH fell to $89.#Binance #Bitfinex #Kraken #Huobihttps://t. co/xnuesfF2g8 pic.twitter.com/b4ZMfTwaEO— view base (@view basecom) March 20, 2020
Further, ETH sales to come
The panic about the Coronavirus since a few weeks, the global markets are in suspense. All Assets are collapsed in this time. In times of a pandemic, the correlation between the various Assets almost at 1. Here, we see the desire of many people to liquidity and, accordingly, also cash. It is clear that under such circumstances, cash is still the king. However, was able to break free in the last week Bitcoin from the clutches of the fear and the stock market and Gold to outperform. The Ethereum course moved a little.Well-known analysts such as Chris Burniske, however, of a further sell-off in the coming days/weeks. Because, in their opinion, the share prices have not yet reached their low point. The panic around the Coronavirus could continue to increase and many investors are forced to liquidate their positions. In addition, institutions currently something. Therefore, the money in the Large flows only occasionally in the traditional market and, in particular, in the crypto-market, which is still classified as extremely speculative.
1/ Lots of people asking where $BTC bottoms. The short of it is I wouldn’t be surprised to see a retest of our 2018 lows near $3000. To explain:— Chris Burniske (@cburniske) March 16, 2020
Interested in the DeFi’s for the time being, broke
One more thing, we have to take: The expectations were this year extremely high on Ethereum. Not only will the upcoming Update on Ethereum 2.0 with the exchange of Proof-of-Work (PoW) to Proof of Stake (PoS), but the entire field around DeFi (Decentralized Finance), has let the hearts of the investors is higher. However, the pandemic has also made a dash through the bill. In contrast, the strongly growing DeFi-the market could change nothing.Through the ETH-rate burglary to under 200 USD, a large part of the Ethereum, which were deposited as security in the different DeFi-products was to be liquidated. The investors were more Ethereum as a safety forced to shoot to prevent a liquidation. The uncertainty on the market has the entire DeFi-topic for the time being into the Background. This shows pretty clearly that DeFi has not been established for a long time and currently still very much speculation in the market.The best and safest stock market choose for you to opt for the right provider is not always easy. Therefore, we recommend that you take a look at our Bitcoin brokers & exchanges to throw a comparison. Trading on the safest and best exchanges in the world! For Comparison
Ethereum rates could explode to a soil formation
Therefore, many of the Ethereum investors save currently probably you transfer your ETH on the various stock exchanges to put a direct Stop Losses. So they would not lose in the event of a further sell-off even more percent.It is not currently clear how the Situation around the pandemic will continue to have an impact on the markets. A further sell-off cannot be excluded. Here Ethereum is based, like all the other Altcoins in the Bitcoin exchange rate.The process could, in theory, are similar to the scenario of the beginning of 2019: This Ethereum reached in December 2018, its lowest point at about 80 USD. At that time, nearly 14 million ETH layers on the exchanges. This went hand in hand with the Bitcoin price crash of up to 3,200 USD. As of this Level it could keep over several weeks, increased the demand for Bitcoin and also to Ethereum. The ETH course was recorded within a few days, an increase of almost 100%.We are excited to see where the actual ground is found and how the Ethereum course, then respond. We will keep you here, of course, continue to be up to date.How is your opinion of Ethereum course in the next few days/weeks? The ETH on the stock markets to sell-off or it has another reason?Come on in to our Telegram Chat and talk with the experts and the Community!
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