Analysts at CryptoQuant say investors are showing strong faith in Ether. Proof: spot reserves of the second largest cryptocurrency by capitalization on crypto exchanges are declining.
There is virtually no significant selling pressure in the Ether market. According to CryptoQuant experts, ether reserves are declining due to a large outflow of funds.
At the same time, the total value of ether staked increased, exceeding 31 million ETH, which is further confirmation of investors’ faith in the future growth of the asset.
The decrease in reserves and the increase in staking coins, CryptoQuant believes, indicate that the asset has intrinsic value, and if spot reserves decrease further, the value could increase.
On Wednesday, March 13, the ether exchange rate updated its indicators, reaching $4,083 for the first time since 2021. The increase in the value of ETH over the week was more than 14%.
