Ethereum Exchange Reserves Hit Record Lows, Whale Buys $138 Million: Signals of Growing Institutional Confidence

Ethereum exchange reserves have plummeted to a record low, signaling tightening supply and impacting price movements. A large whale’s recent purchase of $138 million worth of ETH points towards the growing confidence in Ethereum’s future from institutional investors. This trend is fueling a market resurgence as Ethereum (ETH) has bounced back from support levels, aiming for resistance at $4,772. 18.5 million ETH are currently left on exchanges – a new record low. Analysts suggest that this decline could influence price movements in the future.