![Ethereum [ETH]: This is the silver lining to its post-Merge performance](https://i.headtopics.com/images/2022/10/6/cryptoamb/ethereum-eth-this-is-the-silver-lining-to-its-post-ethereum-eth-this-is-the-silver-lining-to-its-post-1577940514355265538.webp)
It’s been more than 2 weeks since Ethereum’s Merge happened. However, the hype that existed before the event died down soon, with the event followed by disinterest in the cryptocurrency. Glassnode recently confirmed this outcome after observing a sustained drop in ETH Open Interest in perpetual Futures contracts. Here’s AMBCrypto’s Price Prediction for Ethereum [ETH] […]
For example, the amount out of exchanges has slowed down significantly over the last few weeks, with the same now at a 6-month low. Exchange withdrawing addresses have particularly tanked since the end of September.The observed drop in exchange withdrawing addresses would traditionally be the case during a sell-off. It indicates low demand and would be accompanied by an increase in exchange depositing addresses during bearish market conditions.
However, exchange depositing addresses seemed to suggestThe aforementioned observation confirms that sell pressure is also low and this explains ETH’s price action. The latter has been sideways for the last few days, as we shall observe later. In the meantime, the observation also means investors, especially whales, are sitting on the sidelines.ETH addresses holding more than 100 ETH have been offloading their holdings since mid-September.
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