{"id":180982,"date":"2023-10-25T23:36:53","date_gmt":"2023-10-25T18:06:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180982"},"modified":"2023-10-25T23:36:53","modified_gmt":"2023-10-25T18:06:53","slug":"ethereum-is-a-price-correction-on-the-cards-for-eth-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-is-a-price-correction-on-the-cards-for-eth-crypto-news\/","title":{"rendered":"Ethereum: Is a price correction on the cards for ETH? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Metrics revealed that investors were still buying Ethereum.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Its MVRV Ratio was up, suggesting that ETH\u2019s price might go up soon.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ethereum\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Ethereum [ETH]<\/span><\/a><span style=\"font-weight: 400\"> astonished investors with its latest bull rally that allowed it to surpass the $18,000 mark. In fact, during that period, ETH\u2019s supply on exchanges hit a historic low level. However, the weather was changing as the king of altcoins\u2019 price witnessed a price correction over the last few hours.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check the<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">ETH Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<h4><b>Ethereum\u2019s supply on exchanges hit a record low<\/b><\/h4>\n<p><span style=\"font-weight: 400\">As the crypto market gained bullish momentum, Ethereum, being the top altcoin, registered a promising uptick. In fact, in just the last seven days, ETH\u2019s price rose by more than 12%. While the token\u2019s price surged, investors continued to buy ETH.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\ude2e\ud83d\udc33 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#Ethereum<\/a> has fared well during this market-wide <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#crypto<\/a> surge. Prices crossed $1,850 for the first time since August 15th, and the now 8.41% of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">$ETH<\/a> supply on exchanges is the lowest since <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/genesis?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#genesis<\/a> in 2015. Whale transactions also hit a 6-month high. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/yApmiKc7Ib\" data-wpel-link=\"external\">https:\/\/t.co\/yApmiKc7Ib<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/QZRRmt1AET\" data-wpel-link=\"external\">pic.twitter.com\/QZRRmt1AET<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1716956997059572102?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">October 24, 2023<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Santiment\u2019s recent tweet revealed that<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/ethereum-rises-10-in-48-hours-as-whales-make-a-splash\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">ETH<\/span><\/a><span style=\"font-weight: 400\">\u2019s supply on exchanges hit a record low. To be precise, Ethereum\u2019s supply on exchanges has reached the lowest level since Genesis in 2015, suggesting that investors continued to stockpile. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, soon after this episode, ETH\u2019s price started to decline. According to<\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" data-wpel-link=\"external\"> <span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, ETH was down by more than 2% in the last 24 hours. At the time of writing, it was trading under the $1,800 mark at $1,770.32 with a market capitalization of over $212 billion.<\/span><\/p>\n<h4><b>Are investors starting to sell ETH?<\/b><\/h4>\n<p><span style=\"font-weight: 400\">Despite the recent drop in its price, Ethereum\u2019s metrics suggested that investors continued to buy more tokens. This was evident from CryptoQuant\u2019s data which showed ETH\u2019s net deposits on exchanges were low compared to the 7-day average.<\/span><\/p>\n<p><span style=\"font-weight: 400\"> Apart from that,<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/will-ethereum-benefit-from-the-ongoing-etf-buzz\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">ETH<\/span><\/a><span style=\"font-weight: 400\">\u2019s supply on exchanges continued to remain lower than its supply outside of exchanges. This clearly indicated that investors were purchasing more tokens. Its exchange outflow also remained relatively low throughout the week. In fact, supply held by top addresses increased slightly.<\/span><\/p>\n<div id=\"attachment_353596\" style=\"width: 3850px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-14.57.16-25-Oct-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353596\" class=\"wp-image-353596 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-14.57.16-25-Oct-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" \/><\/a><\/p>\n<p id=\"caption-attachment-353596\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Read<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Ethereum\u2019s [ETH] Price Prediction<\/span><\/a><span style=\"font-weight: 400\"> 2023-24<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">The good news was that while<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/as-ethereum-moves-closer-to-2k-this-metric-sees-8-month-high\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">ETH<\/span><\/a><span style=\"font-weight: 400\">\u2019s price dropped in the last 24 hours, its trading volume also dropped slightly. This is considered to be a bullish signal as it suggests that investors were reluctant to trade the token at a lower price.<\/span><\/p>\n<p><span style=\"font-weight: 400\"> Its MVRV ratio also remained high. Additionally, its network growth was high last week. It meant that more new addresses were created to trade the token over the last seven days.<\/span><\/p>\n<div id=\"attachment_353598\" style=\"width: 3850px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353598\" class=\"wp-image-353598 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"3840\" height=\"1300\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 3840px) 100vw, 3840px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353598\" class=\"wp-image-353598 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Ethereum-ETH-15.01.20-25-Oct-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" \/><\/a><\/p>\n<p id=\"caption-attachment-353598\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Metrics revealed that investors were still buying Ethereum. Its MVRV Ratio was up, suggesting that ETH\u2019s price might go up soon.\u00a0 Ethereum [ETH] astonished investors with its latest bull rally that allowed it to surpass the $18,000 mark. In fact, during that period, ETH\u2019s supply on exchanges hit a historic low level. However, the weather [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":180983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-180982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180982"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180982\/revisions"}],"predecessor-version":[{"id":180989,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180982\/revisions\/180989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180983"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}