Ethereum has risen to $1,140 in the last 24 hours, up more than 8%, with the largest altcoin starting to gain from Monday.
This is happening against the backdrop of an influx of cryptocurrencies onto trading floors, which is often seen by analysts as a wake-up call.
It is quite possible that investors are preparing for the Ethereum sell-off, which may happen in the very near future. The volume of ether on exchanges has approached the maximum values recorded in 2022, so the scenario seems quite realistic.
According to Santiment experts, nearly 13.8% of the total ether supply is placed on trading platforms. A similar situation developed in early January 2022.
Ether then immediately fell in price as wallets began dumping the asset.
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Source: IXBT
