ETH Sell Pressure to Ease as Exchange Balances Decline

IconCryptoNewsTerminal Staff10 Jul, 2024

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ETH Sell Pressure to Ease as Exchange Balances Decline

ETH sell pressure could soon ease, according to an analysis by CoinTelegraph via X. Exchange ETH balances have declined from 13.34 million ETH two months ago to 12.21 million ETH, according to Glassnode data. Meanwhile, roughly 40% of the ETH supply is locked in staking and decentralized applications (Dapps). This suggests that investors are less likely to sell their ETH in the short term as it is locked in staking and Dapps.