To buy Ethereum through exchanges it will become more and more complicated. Or rather, this is the trend that is inaugurating in September, a month that – like last January – is recording a record from $ ETH which are withdrawn from intermediaries.
Which means that more and more people and investors are removing their ETH from exchanges – a movement that generally denotes a willingness to keep them at least in the long run.
A movement that many, among the analyzes, believe to be strongly bullish. You can invest with the eToro platform (here to get a 100% free and unlimited demo account) – that offers $ ETH in direct access together with others 30+ cryptocurrencies.
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Weak week for Ethereum, but someone accumulates
The week of Ethereum, fully respecting the September tradition of the world crypto, was slightly up. A 7% full, which reported $ ETH in Zone $ 3,500, which will be the battleground of the weekend.
A performance practically parallel to Bitcoin, that this morning instead of the $ 48,000 and perhaps $ 49,000, in a market that would seem to be still in a accumulation phase, trying to overcome the two channels that would signal the return of a very strong bull run.
The situation of Ethereum, however, would seem to be very interesting not for the price action, which has given some satisfaction during the last week. Yes, because there is a real escape of Ethereum give it exchange, in the sense that fewer and fewer are available.
Big investors (and small ones too) hoard
There actually are three forces that are making the Ethereum increasingly scarce on exchanges. First the large amount of $ ETH which has already been sent in staking on the testnet – which now exceeds 25 billion dollars equivalent value locked – and that cannot be unlocked until you upgrade to version 2.0.
Secondly there is the burn, on which we updated you a little while ago, which is going well and is making ETH nearly deflationary in recent weeks. Much less ETH created by the blocks and even here – compared to a normal condition, fewer tokens in circulation.
However, what is independent of the functioning of the network itself – and is due to movements on the part of investors, this is what we have included in the infographic above, which reports how much ETH enters and leaves, making the sum, from the main exchanges. Throughout the month of September, with some rare (and lackluster) exceptions, there was a rush to take ETH away from exchanges.
And this is a signal strongly bullish, because precisely it means that fewer are available for immediate sale. Sure, anyone can move them back – but taking them out has always been a bullish sign, which came with this force last time during the bull run that took ETH to its all-time high.
Forecasts confirmed – and also in the short term …
Also on the short period we could see a further rise of Ethereum, which after gaining altitude $ 4,000 recently, it has undergone a sharp correction that has affected the entire sector.
Price levels that we indicate on ours Ethereum forecasts – which signal, with important technical and fundamental bases – the next growth of the protocol. And the escape and the burn can only confirm what the is consent among analysts.