The largest altcoin ether (ETH) is approaching $1600. The day before, the coin fell to $1487 on the background of renewed sales, provoked by data on inflation in the United States.
Santiment analysts attribute the rapid rebound to the low exchange supply of ether. Over the past six months, the cryptocurrency’s volume on trading floors has fallen by more than 37%.
The researchers found that traders gradually withdrew ETH from exchange wallets after The Merge blockchain update in September. That is, the number of coins available for purchase on centralized exchanges decreased significantly over six months.