Massive spike in ETH’s Token Age Consumed - local bottom found?
There’s been another significant spike in Ethereum’s token age consumed yesterday, as the coin fell below $180 during a market-wide correction.
Elevated levels of token age indicate that a significant amount of previously dormant coins are on the move once again, and often point to short-term behavioral shifts among market stakeholders.
Similar spikes of token age consumed during a correction have often preceded local bottoms for Ethereum in the past (accompanied image).
Should history repeat itself, we might see another short-term bounceback for ETH in days to come.