Ethereum Shows Signs of Rebound as Supply on Exchanges Hits Record Low

COINOTAG News, February 18th, reflects a recent analysis from cryptocurrency market research firm Santiment, highlighting a notable recovery in Ethereum prices. The digital asset has remarkably climbed to $2,745, outperforming many other altcoins and signaling renewed investor confidence. Evidence suggests that long-term trends are benefiting ETH, with a significant shift of 0.83% of the total Ethereum supply transitioning from exchanges to cold wallets over a fortnight. This substantial movement has led to a historic low of merely 6.38% of ETH available on exchanges. As February progresses, the cryptocurrency community is demonstrating a revived interest in Ethereum, despite its relatively underwhelming performance in 2024 against major market assets. Investors are closely monitoring for a potential rebound, fueled by the optimism surrounding an overall market recovery.