Ethereum scarcity looms as exchange reserves drop
Data from CryptoQuant shows that Ether reserves on centralized exchanges are declining with numbers dropping to 8.1 million ETH. Although there are many theories behind the recent drop, Nuggets News’, Alex Saunders, pointed out that at the current rate, “exchanges will run out of ETH in 10 days.”
On January 14, Saunders noted that Ether reserves on exchanges dropped by 10% from 11 million to 10 million in 24 hours. Several hours later, he made a second tweet stating that the decline had escalated by a further 20% and that reserves on exchanges could dry up in the next 48 hours.
Exchanges will run of $ETH in 10 days at current rate. Reserves dropped 10% in 24 hours. Incredible. We all know what happened when demand outstripped supply of $BTC. It quadrupled in 90 days. Can the world computer top that?
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