The cryptocurrency markets are in chaos today as most coins trade in the red. There may be more selling pressure for ETH as the supply of coins on exchanges stands at a three-month peak.
The results didn’t come late. Global markets fell and cryptocurrencies didn’t suffer. Bitcoin fell to $34K while ETH plunged by double-digits. Data from popular analytics provider Glassnode shows that ETH sitting on exchanges reached a three-month high.
The Ethereum balance on exchanges has just reached a three-month high of 14,795,397.786 Ethereum.
Yesterday’s previous high was somewhat unexpected. ETH’s market saw $124 million in liquidations over the last 24 hours. Surprisingly, this is almost the same amount as Bitcoin’s total liquidations in that time period.
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