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Ethereum's Supply is Showing Promising Movement Off Exchanges, But Tether's Dry Powder Needs to Rebound

@brianq
1 min read
30.07.2024
USDT
ETH


📊 Mixed news as far as coin exchange flow as July is coming to a close:

🐂 Bullish: Ethereum just had a 2-month high 80.8K ETH outflow from exchanges. This reflects less risk in future selloffs that could impact ETH's price negatively.

🐻 Bearish: Tether just had a 5-month high 346M USDT outflow from exchanges. This reflects less buying power for future purchases from traders, which is generally a necessary ingredient needed to boost prices in the long run.

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