Ethereum Exchange Reserves Plummet to 15.5M ETH Amid Growing Bullish Pressure
Ethereum exchange reserves have reached their lowest level in recent years, dropping to approximately 15.5 million coins during Thursday's session.
This represents a 38% decrease from the peak of 25.2 million ETH recorded in May 2023, and marks a significant shift in the asset's trading dynamics.
The Market Value to Realized Value (MVRV) ratio has climbed above its 160-day moving average, reaching 1.05 points, indicating growing bullish pressure on the market.