Ethereum: Despite declining trends, bullish hopes rise

data revealed that the supply on exchanges, as a percentage of the total supply, had reached an all-time low.

As of this writing, this supply had declined to approximately 9.1%, marking its lowest level since Ethereum’s inception.The decline in supply commenced back in January, but it was during May that a sharp downturn became apparent. This downward trajectory has persisted until now, further deepening the scarcity of Ethereum available on exchanges.for long-term holders revealed that, despite the recent uptrends, they have yet to translate into profitability for these holders.

As of this writing, the two-year Market Value to Realized Value ratio had dipped below zero, standing at -10% at press time. This indicated that individuals who have held onto ETH during this specific held at a loss.However, there remained a glimmer of hope. A sustained increase in value could potentially propel these holders into a more profitable zone, alleviating their loss position at press time., held optimistic expectations for an impending price surge.

It is worth noting that a price rise could further enhance the positivity of the funding rate, potentially attracting more traders to take long positions. Conversely, a price decline would cause a substantial number of positions to be liquidated.

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