{"id":519624,"date":"2023-02-14T19:00:06","date_gmt":"2023-02-14T19:00:06","guid":{"rendered":"https:\/\/wncen.com\/?p=519624"},"modified":"2023-02-14T18:46:43","modified_gmt":"2023-02-14T18:46:43","slug":"ethereum-exchange-supply-fallen-37-post-merge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-exchange-supply-fallen-37-post-merge\/","title":{"rendered":"Ethereum Exchange Supply Has Fallen 37% Post Merge: Santiment"},"content":{"rendered":"

On-chain data from Santiment shows the Ethereum supply on exchanges has dropped by 37% since the Merge in September last year.<\/p>\n

Ethereum Supply On Exchanges Has Continued To Decline Recently<\/h2>\n

As per the on-chain analytics firm Santiment<\/a>, ETH continuing to leave exchanges can be good news for the cryptocurrency. The “supply on exchanges<\/a>” is an indicator that measures the total amount of Ethereum that’s currently sitting in the wallets of all centralized exchanges.<\/p>\n

When this metric’s value increases, investors transfer a net number of coins to exchanges. Since one of the main reasons holders may deposit their coins to exchanges is for selling purposes, this trend can have bearish implications for the asset’s price.<\/p>\n

On the other hand, the indicator observing a decline suggests that a net amount of supply is leaving these platforms currently. As the exchange supply can be considered a sort of available “selling supply” for ETH, its value decreasing can naturally be bullish for the coin.<\/p>\n

Related Reading: Here\u2019s What\u2019s Needed For The Bitcoin Rally To Resume<\/a><\/div>\n

Now, here is a chart that shows the trend in the Ethereum supply on exchanges over the last few months:<\/p>\n

\"Ethereum<\/p>\n

The value of the metric seems to have sharply gone down in recent days | Source: Santiment on Twitter<\/a><\/pre>\n
As shown in the above graph, the Ethereum supply on exchanges measured around 19.12 million ETH back on the 14th of September 2022, the date of the much-hyped Merge<\/a>, which successfully transitioned the network consensus mechanism to a proof-of-stake (PoS) one.<\/p>\n
Since then, the indicator has observed a significant decline, leading to the number of exchanges still left today being just 13.36 million ETH. Regarding capital loss, today’s exchange supply is worth about 37% less than it was during the Merge.<\/p>\n
Related Reading: Bitcoin NUPL Retests Key Support, Will BTC Rebound?<\/a><\/div>\n
And in terms of the pure difference in the total number of coins, these platforms today hold about 30% less Ethereum supply than on the date of the PoS upgrade. Santiment thinks this is good news for the Ethereum market, as the available selling supply has continuously shrunk in recent months.<\/p>\n
The chart shows that the most drastic drawdown in the indicator came following the collapse of the crypto exchange FTX. The reason behind that is a known platform like FTX going belly up renewed fear around centralized exchanges among investors, pushing them to take their coins to offsite wallets.<\/p>\n
The price of Ethereum has registered a decline<\/a> in the past week. Still, as is visible in the graph, the Ethereum supply on exchanges has seen a noticeably sharper decline following this price dip, which may be a sign that investors are accumulating more while ETH is at a “discount.”<\/p>\n
ETH Price<\/h2>\n
At the time of writing, Ethereum is trading around $1,500, down 8% in the last week.<\/p>\n
\"Ethereum<\/p>\n
It looks like the value of ETH hasn't moved much in the last few days | Source: ETHUSD on TradingView<\/a><\/pre>\n
Featured image from Jievani Weerasinghe on Unsplash.com, charts from TradingView.com, Santiment.<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data from Santiment shows the Ethereum supply on exchanges has dropped by 37% since the Merge in September last year. Ethereum Supply On Exchanges Has Continued To Decline Recently As per the on-chain analytics firm Santiment, ETH continuing to leave exchanges can be good news for the cryptocurrency. The “supply on exchanges” is an indicator that measures the total amount of Ethereum that’s currently sitting in the wallets of all centralized exchanges. When this metric’s value increases, investors transfer a net number of coins to exchanges. Since one of the main reasons holders may deposit their coins to exchanges is for selling purposes, this trend can have bearish implications for the asset’s price. On the other hand, the indicator observing a decline suggests that a net amount of supply is leaving these platforms currently. As the exchange supply can be considered a sort of available “selling supply” for ETH, its value decreasing can naturally be bullish for the coin. Related Reading: Here\u2019s What\u2019s Needed For The Bitcoin Rally To Resume Now, here is a chart that shows the trend in the Ethereum supply on exchanges over the last few months: The value of the metric seems to have sharply gone down in recent days | Source: Santiment on Twitter As shown in the above graph, the Ethereum supply on exchanges measured around 19.12 million ETH back on the 14th of September 2022, the date of the much-hyped Merge, which successfully transitioned the network consensus mechanism to a proof-of-stake (PoS) one. Since then, the indicator has observed a significant decline, leading to the number of exchanges still left today being just 13.36 million ETH. Regarding capital loss, today’s exchange supply is worth about 37% less than it was during the Merge. Related Reading: Bitcoin NUPL Retests Key Support, Will BTC Rebound? And in terms of the pure difference in the total number of coins, these platforms today hold about 30% less Ethereum supply than on the date of the PoS upgrade. Santiment thinks this is good news for the Ethereum market, as the available selling supply has continuously shrunk in recent months. The chart shows that the most drastic drawdown in the indicator came following the collapse of the crypto exchange FTX. The reason behind that is a known platform like FTX going belly up renewed fear around centralized exchanges among investors, pushing them to take their coins to offsite wallets. The price of Ethereum has registered a decline in the past week. Still, as is visible in the graph, the Ethereum supply on exchanges has seen a noticeably sharper decline following this price dip, which may be a sign that investors are accumulating more while ETH is at a “discount.” ETH Price At the time of writing, Ethereum is trading around $1,500, down 8% in the last week. It looks like the value of ETH hasn’t moved much in the last few days | Source: ETHUSD on TradingView Featured image from Jievani Weerasinghe on Unsplash.com, charts from TradingView.com, Santiment.<\/p>\n","protected":false},"author":542,"featured_media":519642,"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":[8323,1946,85736,87836,8686,57231],"class_list":["post-519624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethereum-merge","tag-ethereum-supply-on-exchanges","tag-ethusd","tag-santiment"],"acf":[],"yoast_head":"\nEthereum Exchange Supply Has Fallen 37% Post Merge: Santiment<\/title>\n<meta name=\"description\" content=\"On-chain data from Santiment shows the Ethereum supply on exchanges has dropped by 37% since the Merge 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Exchange Supply Has Fallen 37% Post Merge: Santiment","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-exchange-supply-fallen-37-post-merge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-exchange-supply-fallen-37-post-merge\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/jievani-weerasinghe-zHI7m_FxpMU-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/jievani-weerasinghe-zHI7m_FxpMU-unsplash-scaled.jpg?fit=2084%2C2560"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"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 merge","ethereum supply on exchanges","ethusd","santiment"],"dateCreated":"2023-02-14T19:00:06Z","datePublished":"2023-02-14T19:00:06Z","dateModified":"2023-02-14T19:00:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Exchange Supply Has Fallen 37% Post Merge: Santiment\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-exchange-supply-fallen-37-post-merge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-exchange-supply-fallen-37-post-merge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/jievani-weerasinghe-zHI7m_FxpMU-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/jievani-weerasinghe-zHI7m_FxpMU-unsplash-scaled.jpg?fit=2084%2C2560\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"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 merge\",\"ethereum supply on exchanges\",\"ethusd\",\"santiment\"],\"dateCreated\":\"2023-02-14T19:00:06Z\",\"datePublished\":\"2023-02-14T19:00:06Z\",\"dateModified\":\"2023-02-14T19:00:06Z\"}<\/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\/2023\/02\/jievani-weerasinghe-zHI7m_FxpMU-unsplash-scaled.jpg?fit=2084%2C2560","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519624"}],"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\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=519624"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/519642"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=519624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=519624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=519624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}