There has recently been a decline in the price of Ethereum as some traders take advantage of the recent surge in price.
Although the price has since dipped below $4,000, certain metrics suggest a potential resurgence, with the chance of reaching a new ATH still on the horizon.
This increase suggests that more traders have deposited their assets onto exchanges, likely capitalizing on the recent surge in ETH price.A comparison of the supply outside of exchanges to the supply on exchanges helped to gain a clearer understanding. Analysis of the supply off exchanges indicates a relatively stable trend recently.
However, at the time of writing, the decline had deepened further, with prices plummeting by over 5% to approximately $3,680. These declines represent the most significant and consecutive drops since around 24th February.
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