{"id":472746,"date":"2021-09-29T23:00:27","date_gmt":"2021-09-29T23:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=472746"},"modified":"2024-06-11T13:59:04","modified_gmt":"2024-06-11T13:59:04","slug":"ethereum-is-a-ticking-time-bomb","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-is-a-ticking-time-bomb\/","title":{"rendered":"Crypto Analyst Says Ethereum Market Is A \u201cTicking Time Bomb\u201d, Here\u2019s Why"},"content":{"rendered":"<p class=\"p1\">Ethereum has recently taken hits along with the rest of the wider market. Numerous market dips and crashes have seen the digital asset crashing back down below $3,000 in recent weeks and this has left ETH in a struggling position. With momentum down, it looks like the market is headed for another bear market as cryptocurrencies are now recording lower lows and lower highs with each dip and recovery.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/big-money-dump-bitcoin-for-ethereum\/\">JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">The asset had dropped below the $2,700 price range for the first time in a two-month period. And the September slowdown has caused recovery trends to fall short of expectations. Despite this, crypto analyst Lark Davis does not believe the asset should be counted out just here. Pointing to some interesting exchange reserve metrics, the analyst believes that Ethereum could very well be on the verge of an explosion.<\/p>\n<h2 class=\"p1\">Exchange Reserves Drop 15%<\/h2>\n<p class=\"p1\">Declining exchange reserves volume has been reported upon recently. This is not peculiar to Ethereum alone. <a href=\"https:\/\/bitcoinist.com\/bitcoin-and-ethereum-exchange-reserves-continue-to-plummet-as-supply-shock-tightens-its-grip\/\" rel=\"nofollow\">Data shows that in addition to ETH, Bitcoin exchange reserves have also plummeted in the past couple of months<\/a>. This goes against the grain of how bull markets have operated in the past. With each past rally have come increased exchange reserves as investors moved their assets onto centralized exchanges to sell and take profits. But 2021 has been the year of the unexpected in the crypto market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/KeN7acMV\/\" alt=\"Ethereum price chart from TradingView.com\" width=\"1354\" height=\"686\"><\/p>\n<pre style=\"text-align: center\">ETH price trading below $3,000 | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/UG2tjOD6\/\" rel=\"nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p class=\"p1\">Instead of exchange reserves going up as the price went up, it has gone the opposite direction. At the height of the bull rally this year, there had been 21 million ETH on centralized exchanges. But even as the market has dipped and recovered at various points, exchange balances are going down. Now, there is about 18 million ETH on centralized exchanges, showing a 15% decline from the height of the bull market earlier in the year.<\/p>\n<p class=\"p1\">Crypto analyst Lark Davis <a href=\"https:\/\/twitter.com\/TheCryptoLark\/status\/61492484\" rel=\"nofollow\">said<\/a> of the decreased exchange balances, \u201cThere are around 3 million less Ethereum on exchanges now compared to when the price was at an all-time high. This market is a ticking time bomb.\u201d<\/p>\n<h2 class=\"p1\">Why Exchange Reserves Are On The Decline<\/h2>\n<p class=\"p1\">One reason for exchange reserves being on the decline is due to accumulation patterns by investors. Market sentiment has skewed more towards holding than selling despite the recent bull rally and as such, investors are buying more cryptocurrencies and moving these assets to more secure personal wallets. These accumulation patterns are driving what may be a <a href=\"https:\/\/bitcoinist.com\/bitcoin-and-ethereum-exchange-reserves-continue-to-plummet-as-supply-shock-tightens-its-grip\/\" rel=\"nofollow\">supply shock across the top 2 cryptocurrencies in the market<\/a>.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/5b-bitcoin-and-ethereum-moved-from-cold-wallets\/\">Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">Another reason for declining Ethereum exchange reserves has been attributed to the rise of decentralized finance (DeFi). This is because most DeFi activities are carried out on the Ethereum blockchain and as such, ETH tokens are required to carry out transactions. Therefore, investors are moving their ETH from centralized exchanges to decentralized exchanges, leading to decreased centralized exchange reserves.<\/p>\n<pre style=\"text-align: center\">Chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum has recently taken hits along with the rest of the wider market. Numerous market dips and crashes have seen the digital asset crashing back down below $3,000 in recent weeks and this has left ETH in a struggling position. With momentum down, it looks like the market is headed for another bear market as cryptocurrencies are now recording lower lows and lower highs with each dip and recovery. Related Reading |\u00a0JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum The asset had dropped below the $2,700 price range for the first time in a two-month period. And the September slowdown has caused recovery trends to fall short of expectations. Despite this, crypto analyst Lark Davis does not believe the asset should be counted out just here. Pointing to some interesting exchange reserve metrics, the analyst believes that Ethereum could very well be on the verge of an explosion. Exchange Reserves Drop 15% Declining exchange reserves volume has been reported upon recently. This is not peculiar to Ethereum alone. Data shows that in addition to ETH, Bitcoin exchange reserves have also plummeted in the past couple of months. This goes against the grain of how bull markets have operated in the past. With each past rally have come increased exchange reserves as investors moved their assets onto centralized exchanges to sell and take profits. But 2021 has been the year of the unexpected in the crypto market. ETH price trading below $3,000 | Source: ETHUSD on TradingView.com Instead of exchange reserves going up as the price went up, it has gone the opposite direction. At the height of the bull rally this year, there had been 21 million ETH on centralized exchanges. But even as the market has dipped and recovered at various points, exchange balances are going down. Now, there is about 18 million ETH on centralized exchanges, showing a 15% decline from the height of the bull market earlier in the year. Crypto analyst Lark Davis said of the decreased exchange balances, \u201cThere are around 3 million less Ethereum on exchanges now compared to when the price was at an all-time high. This market is a ticking time bomb.\u201d Why Exchange Reserves Are On The Decline One reason for exchange reserves being on the decline is due to accumulation patterns by investors. Market sentiment has skewed more towards holding than selling despite the recent bull rally and as such, investors are buying more cryptocurrencies and moving these assets to more secure personal wallets. These accumulation patterns are driving what may be a supply shock across the top 2 cryptocurrencies in the market. Related Reading |\u00a0Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown Another reason for declining Ethereum exchange reserves has been attributed to the rise of decentralized finance (DeFi). This is because most DeFi activities are carried out on the Ethereum blockchain and as such, ETH tokens are required to carry out transactions. Therefore, investors are moving their ETH from centralized exchanges to decentralized exchanges, leading to decreased centralized exchange reserves. Chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":472747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,6931,8686,84396],"class_list":["post-472746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethereum-price","tag-ethusd","tag-etusdt"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Says Ethereum Market Is A \u201cTicking Time Bomb\u201d, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Ethereum has recently taken hits along with the rest of the wider market. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Says Ethereum Market Is A \u201cTicking Time Bomb\u201d, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-is-a-ticking-time-bomb\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-is-a-ticking-time-bomb\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/eth-3.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/eth-3.jpeg?fit=1200%2C889"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethereum price","ethusd","etusdt"],"dateCreated":"2021-09-29T23:00:27Z","datePublished":"2021-09-29T23:00:27Z","dateModified":"2024-06-11T13:59:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Says Ethereum Market Is A \\u201cTicking Time Bomb\\u201d, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-is-a-ticking-time-bomb\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-is-a-ticking-time-bomb\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/eth-3.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/eth-3.jpeg?fit=1200%2C889\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethereum price\",\"ethusd\",\"etusdt\"],\"dateCreated\":\"2021-09-29T23:00:27Z\",\"datePublished\":\"2021-09-29T23:00:27Z\",\"dateModified\":\"2024-06-11T13:59:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/eth-3.jpeg?fit=1200%2C889","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/472746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=472746"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/472746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/472747"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=472746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=472746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=472746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}