Ethereum experiencing bullish momentum as deposits on exchange platforms dip
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Ethereum remains the second largest cryptocurrency by market cap, trailing only Bitcoin, however, the coin has taken a unique battery with its market cap dropping from its high of about $400 billion. The showcased rally being experienced in the price of Ethereum is antagonistic to its on-chain metrics.to data from Glassnode, the Ethereum number of exchange deposits has dropped to its one-month low of 820.881.
This metric shows that investors are still generally HODLing their coins and the rate of trading on trading platforms is at a low ebb. Per the Glassnode data, Ethereum's exchange deposits have been printing new lows lately, showcasing the bearish sentiment that has engulfed the decentralized network over the past month.
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