Ethereum, Bancor, and Kyber Network all Continue to Quietly See Their Supplies Moving Off Exchanges

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brianq
Feb 27, 2021


Though the ratio of a crypto asset's supply on exchanges may not seem to have an immediate impact on prices, the long-term correlations between coins moving away from exchanges while prices move up, is quite evident.


Let's take a look at three ERC-20 assets that are showing this pattern as a volatile week in crypto full of price retracements is coming to an end:



Ethereum

Crypto's #2 market cap asset has seen quite the pullback since its retrace from above $2k last week. However, ETH's supply isn't budging away from offline wallets.



Bancor

Bancor's supply moving away from exchanges had a lot to do with its ability to hit a 2-year high $6.17 last week. BNT supply is now 71.7% below its one-year average.



Kyber Network

KNC's supply has jumped to 39.2% after being as low as 36.1% on January 31st. On the long-term scale, the amount of tokens is still 17% lower than its one-year average.

ETHBNTKNC
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brianq
Feb 27, 2021

Thanks for reading!

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Assets from this insight

Ethereum logo

EthereumETH

$ 2164.49

1.61%in last 7d
Bancor logo

BancorBNT

$ 6.68

3.37%in last 7d
Kyber Network logo

Kyber NetworkKNC

$ 2.80

20.24%in last 7d

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