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February 2021 Analysis for Ethereum

Ethereum liquidity problem

Ethereum achieved its highest price level in 2018, reaching over $ 750 on December 31. A strong performance, ETH recorded an increase of more than 450% over the year. Analyst Joseph Young said a big jump could be seen in the ETH by pointing to February 2021.

Commenting on Ethereum, analyst Joseph Young noted that the supply of ETH, which is primarily available on exchanges, is still at its lowest level year-on-year. “Ethereum could see a big jump in February 2021, ” said the analyst, who shares an ETH chart owned by cryptoquant.” made the comments. This statement was supported by the possibility that Ethereum 2.0 will continue to reduce supply on the exchanges and the announcement of CME Group Futures Ethereum transactions.

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Red: ETH price. Blue: ETH exchange on exchanges

Addresses holding more than 10 thousand ETH rise
Data analytics company centiment shared some statistics for Ethereum, which topped $ 750 for the first time in 31 months. The number of addresses holding more than 10 thousand ETH has increased by 39 in the last 2 months, the company said. However, centiment explained that they also observed a decrease in addresses with ETH between 1-10 thousand.

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Addresses holding 1-100 and 100-10, 000 ETH are in decline, while the number of addresses holding more than 10 thousand ETH is increasing.

In the comment below the post, one user asked why the number of addresses holding 1-100 ETH was on the decline. “We were also surprised by this drop in 2 weeks. Given the magnitude of the fall, it might be said that this is an anomaly related to DeFi.” said.

Analyst Alex Saunders, who commented on Santorum’s data, said whales were accumulating ETH while retail investors were selling. He then established a relationship between Bitcoin and ETH:

“Whales accumulate ETH while retail investors sell. The same happened when Bitcoin was at 10-13 thousand dollars before it jumped.”

Ethereum’s last 24-hour view
According to CoinGecko data, ETH has been priced between $ 722 – $ 756 in the past 24 hours. Ethereum, which is seen to have a trading volume of $ 13 billion, was most traded on the Bitfinex exchange. The current price of ETH, whose daily gain is 2%, is $ 745.

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