With the approaching launch of the Ethereum spot ETF, many institutions and whales are buying and accumulating ETH.
SEC, Ethereum spot ETF's 19b-4 application approved on May 23, during the period from May 23 to June 2, the Ethereum reserves of centralized exchanges have decreased by 797,000, worth about 3.02 billion US dollars. The decrease in exchange reserves means a reduction in the number of tokens available for sale. The circulating supply of ETH held by the Central Exchange has reached its lowest level in years, currently only 10.6%, which is likely to lead to a significant increase in the price of ETH due to the contraction of the available ETH supply.
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With the approaching launch of the Ethereum spot ETF, many institutions and whales are buying and accumulating ETH.
SEC, Ethereum spot ETF's 19b-4 application approved on May 23, during the period from May 23 to June 2, the Ethereum reserves of centralized exchanges have decreased by 797,000, worth about 3.02 billion US dollars. The decrease in exchange reserves means a reduction in the number of tokens available for sale.
The circulating supply of ETH held by the Central Exchange has reached its lowest level in years, currently only 10.6%, which is likely to lead to a significant increase in the price of ETH due to the contraction of the available ETH supply.