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

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