Ethereum exchange deposits surge while staked ETH hits ATH
Ethereum (ETH) sees market uncertainty as exchange deposit s recently surge d to a one-month high. Staked ETH on the Ethereum 2.0 deposit contract hit an all-time high. According to Glassnode, the value recently reached a one-month high, clocking in at 2,145. #Ethereum $ETH Number of Exchange Deposits (7d MA) just reached a 1-month high of 2,145.685 Previous 1-month high of 2,145.327 was observed on 04 September 2023 View metric:https://t.co/Bar49XOvlB pic.twitter.com/Malli7yTlw — glassnode alerts (@glassnodealerts) September 5, 2023 This indicator, which measures the flow of ETH into exchanges, typically raises concerns among investors. An increase in exchange deposits often signals bearish sentiment, implying a potential surge in selling pressure. You might also like: USDT’s market cap drops for the first time in 2023 Investors seem eager to send their ETH holdings to exchange s, possibly anticipating a downward trend in the market. Moreover, a historical pe...