RATE Group | Ethereum [ETH] in Circulation at a 2-year Low, Bullish For Price?
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Ethereum [ETH] in Circulation at a 2-year Low, Bullish For Price?

29 Jan Ethereum [ETH] in Circulation at a 2-year Low, Bullish For Price?

Posted at 14:25h in Ethereum News by

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The amount of Ethereum (ETH) in circulation is at a 2-year low given the positive development in other areas of the trustless ecosystem.

The exponential rise of DeFi products, where data reveals that over $800 million of ETH has been locked up as collateral in exchange of network-issued stable coins, may have contributed to this.

ETH in Circulation at a 2-year Low

The drop in ETH in circulation was noted by Santiment, who posted their findings on Twitter:

“ETH’s token circulation hit a 2-year low a couple days ago on Jan. 26th. Although the long-term outlook for Ethereum still looks solid, it’s still important to be mindful of how many unique tokens are moving addresses on a daily basis to gauge network health.”

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