Crypto Market Update

Earlier this week, the number of Ethereum’s transactions in blockchain per day spiked to a three-year high of about 1.96 million but has since stabilized at around 1.28 million.

The spike in new Ethereum users has consequently increased the overall buying pressure, whereby the ETH exchange supply dropped from 8.18 percent to about 8.10 percent in the last 10 days. The decline in exchange Ether supply is an indication more investors are sending their coins to non-custodial wallets and perhaps staking programs like Lido (LDO).