Ethereum staking hits an all-time high, reducing tradable supply and signaling strong investor confidence in ETH’s long-term growth.
Exchange reserves of Ethereum hit record lows, suggesting increased self-custody and a potential supply squeeze driving bullish sentiment.
Ethereum’s derivatives market sees a 116% surge in trading volume, highlighting heightened market activity and speculative interest.
Ethereum’s ecosystem is undergoing notable changes, according to an update by Leon Waidmann from Onchain Insights. In his latest post, Waidmann highlighted Ethereum staking reaching an all-time high while exchange reserves hit record lows. At the time of writing, Ethereum was valued at $2,680.40 showing a 9.26% growth over the past 24 hours.
#Ethereum Staking at ATH levels, while ETH on exchanges is hitting record lows. 
A supply squeeze incoming!
Bullish #ETH 
pic.twitter.com/Vwd1RT2lwP
— Leon Waidmann | Onchain Insights
(@LeonWaidmann) November 6, 2024
These developments suggest a potential supply squeeze, which could boost ETH’s price. Also, on-chain data points to increased confidence in Ethereum’s long-term viability, as more investors move their ho…
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