Editor's PiCK
[Analysis] "Ethereum, Exchange Withdrawal Transactions Surge... Volatility May Increase"
Suehyeon Lee
Summary
- The surge in exchange withdrawal transactions of Ethereum raises the possibility of increased volatility.
- The surge in exchange withdrawal transactions is analyzed to have a high correlation with altcoins.
- The increase in Ethereum transactions coincides with the decline in Bitcoin dominance, suggesting a possibility of market stagnation.
There is a forecast that the volatility of Ethereum (ETH) will increase as exchange withdrawal transactions surge.
On the 9th (local time), CryptoQuant author Mignolet stated, "Ethereum exchange withdrawal transactions are surging. This should be interpreted as a signal of increased volatility, not just a bearish signal."
He continued, "The increase in Ethereum transactions is highly correlated with altcoins. Coincidentally, the surge in transactions occurs after Bitcoin dominance has sufficiently decreased," explaining that "this suggests a high possibility of market stagnation."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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