We haven't seen a chart like this in 6 years; the $ETH reserves at #Binance have dropped back to 2020 levels.
The fact that reserves have shrunk so drastically without a corresponding price crash shows that the available ETH on exchanges has seriously decreased. Investors are pulling back, choosing to huddle.
Historically, sharp drops in reserves set the stage for supply squeezes. The fewer coins left on exchanges, the quicker prices spike when sudden demand hits.
The key point is that while prices are still far from previous peaks, reserves are in the bottom zone. This means selling pressure is structurally much lower compared to past cycles.
Tracking #Binance is therefore meaningful because a significant portion of global spot volume revolves around this. The data here provides some of the strongest signals for understanding general market behavior.
Looking back, we see that as reserves increased, selling pressure mounted, and as reserves decreased, prices gained strength in the medium term. The current situation is well below previous cycles, which could lead to sharper potential rallies.
#IranDealHormuzOpen #ADPPayrollsSurge #TrumpPauses'ProjectFreedom'
The fact that reserves have shrunk so drastically without a corresponding price crash shows that the available ETH on exchanges has seriously decreased. Investors are pulling back, choosing to huddle.
Historically, sharp drops in reserves set the stage for supply squeezes. The fewer coins left on exchanges, the quicker prices spike when sudden demand hits.
The key point is that while prices are still far from previous peaks, reserves are in the bottom zone. This means selling pressure is structurally much lower compared to past cycles.
Tracking #Binance is therefore meaningful because a significant portion of global spot volume revolves around this. The data here provides some of the strongest signals for understanding general market behavior.
Looking back, we see that as reserves increased, selling pressure mounted, and as reserves decreased, prices gained strength in the medium term. The current situation is well below previous cycles, which could lead to sharper potential rallies.
#IranDealHormuzOpen #ADPPayrollsSurge #TrumpPauses'ProjectFreedom'