Ethereum: August trading activity plummets - the reason why is obvious
Since the beginning of 2023, exchange supply has progressively reduced, marking a decisive shift in sentiment towards HODLing and staking.
In fact, August started on a much weaker note, recording volumes of just $66 billion as of this writing. If no substantial bullish or bearish event emerges, August could finish up with the dubious distinction of clocking the lowest monthly ETH volumes in 2023.Long-term holders have shown less willingness to let go of their ETH stashes. Dormant supply i.e. coins that haven’t moved in a particular time span, have been charging to new highs lately.
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