04-21-2021, 08:47 PM
ETH and BTC supply shortages on crypto exchanges
<!-- SC_OFF --><div class="md"><p>According to viewbase.com we have the following supply changes in the exchange wallets for the last 30 days:</p> <table><thead> <tr> <th align="left"></th> <th align="left">Price</th> <th align="left">Supply delta [crypto]</th> <th align="left">Supply delta [Bn USD]</th> <th align="left">Supply delta as % of market cap</th> </tr> </thead><tbody> <tr> <td align="left">BTC</td> <td align="left">55687.98</td> <td align="left">-44633</td> <td align="left">-2.49</td> <td align="left">-0.24%</td> </tr> <tr> <td align="left">ETH</td> <td align="left">2310.55</td> <td align="left">-1953120</td> <td align="left">-4.51</td> <td align="left">-1.70%</td> </tr> </tbody></table> <p>Take-aways:</p> <ul> <li>Both BTC and ETH exchange outflows far exceed inflows.</li> <li>If you compare ETH to BTC supply shortage in percent of market cap (which is how you need to compare to gauge impact on price) you see that <strong>ETH supply shortage is 7 times that of BTC (-1.7% vs -0.24%)</strong>.</li> </ul> <p>Interpretation:</p> <ul> <li>The supply shortage likely is institutional buyers and new investors acquiring and storing crypto off exchanges for mid/long term holding, staking or DeFi usage (thanks, <a href="/u/Bob-Rossi">u/Bob-Rossi</a>)</li> <li>The ETH outflows are very bullish (1.7% of market cap (!) left exchanges in the last 30 days)</li> <li>For BTC it's bullish, albeit on a significantly lower level (0.24% of market cap)</li> </ul> <p>Looking forward to comments / improvement / additional insights!</p> <p><em>Sources:</em></p> <ul> <li>Supply bitcoin: <a href="https://www.viewbase.com/coin/bitcoin">https://www.viewbase.com/coin/bitcoin</a></li> <li>Supply ethereum: <a href="https://www.viewbase.com/coin/ethereum">https://www.viewbase.com/coin/ethereum</a></li> <li>Prices and market cap: <a href="https://coinmarketcap.com/">https://coinmarketcap.com/</a></li> </ul> <p><em>Limitations:</em></p> <ul> <li>Prices ideally should be volume weighted over the 30 days. I just picked the current price.</li> <li>All limitations of the viewbase.com supply calculations apply.</li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/deepsnowtrack"> /u/deepsnowtrack </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mvda1c/eth_and_btc_supply_shortages_on_crypto_exchanges/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mvda1c/eth_and_btc_supply_shortages_on_crypto_exchanges/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>According to viewbase.com we have the following supply changes in the exchange wallets for the last 30 days:</p> <table><thead> <tr> <th align="left"></th> <th align="left">Price</th> <th align="left">Supply delta [crypto]</th> <th align="left">Supply delta [Bn USD]</th> <th align="left">Supply delta as % of market cap</th> </tr> </thead><tbody> <tr> <td align="left">BTC</td> <td align="left">55687.98</td> <td align="left">-44633</td> <td align="left">-2.49</td> <td align="left">-0.24%</td> </tr> <tr> <td align="left">ETH</td> <td align="left">2310.55</td> <td align="left">-1953120</td> <td align="left">-4.51</td> <td align="left">-1.70%</td> </tr> </tbody></table> <p>Take-aways:</p> <ul> <li>Both BTC and ETH exchange outflows far exceed inflows.</li> <li>If you compare ETH to BTC supply shortage in percent of market cap (which is how you need to compare to gauge impact on price) you see that <strong>ETH supply shortage is 7 times that of BTC (-1.7% vs -0.24%)</strong>.</li> </ul> <p>Interpretation:</p> <ul> <li>The supply shortage likely is institutional buyers and new investors acquiring and storing crypto off exchanges for mid/long term holding, staking or DeFi usage (thanks, <a href="/u/Bob-Rossi">u/Bob-Rossi</a>)</li> <li>The ETH outflows are very bullish (1.7% of market cap (!) left exchanges in the last 30 days)</li> <li>For BTC it's bullish, albeit on a significantly lower level (0.24% of market cap)</li> </ul> <p>Looking forward to comments / improvement / additional insights!</p> <p><em>Sources:</em></p> <ul> <li>Supply bitcoin: <a href="https://www.viewbase.com/coin/bitcoin">https://www.viewbase.com/coin/bitcoin</a></li> <li>Supply ethereum: <a href="https://www.viewbase.com/coin/ethereum">https://www.viewbase.com/coin/ethereum</a></li> <li>Prices and market cap: <a href="https://coinmarketcap.com/">https://coinmarketcap.com/</a></li> </ul> <p><em>Limitations:</em></p> <ul> <li>Prices ideally should be volume weighted over the 30 days. I just picked the current price.</li> <li>All limitations of the viewbase.com supply calculations apply.</li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/deepsnowtrack"> /u/deepsnowtrack </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mvda1c/eth_and_btc_supply_shortages_on_crypto_exchanges/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mvda1c/eth_and_btc_supply_shortages_on_crypto_exchanges/">[comments]</a></span>Kind Regards R