Hello!

I was wondering how well Bitcoin and Ethereum are doing in terms of coins stored in the exchanges. I searched for the information in twitter and I found an user named "LeonWaidmann" that posted a chart where the information is clearly visible.

See it below:

The information is from Glassnode, a well reputated site where lot of investors look for data. So, I assume that the information is accurate.

As you can see in the chart, there has never been a time where the % of Ethereum held on exchanges is that low. Furthermore, the 10% held on exchanges is separating from the 15% Bitcoin held on exchanges.

Why is this important?

Ethereum has been underperforming for some months, but more and more coins are being sucked up fro the exchanges and this trend is far from over.

At some point this could trigger a big effect on price. If we get similar demand and more and more coins are moving out from being available, the price will follow. Eventually.

I am happy to see this trend. I was thinking that the Bitcoin held on exchanges would be lower, but it is what it is. If Ethereum starts rising, the other alts will follow. I think that this will happen again in the coming months. We will probably see another full bull market like the ones we had before.

Slowly, then suddenly!
I hope you had a great day.

Stay safe out there!

Posted Using InLeo Alpha