New analysis shows , Ethereum's native token ETH May defeat BTC, Take the lead in setting an all-time high .

8 month 18 Japan , Chain analysis service company CryptoQuant CEO of Ki Young Ju Emphasized on twitter “ Seller liquidity crisis ”, This may lead to ETH Than BTC More advantage .

Ethereum is short of liquidity “ exacerbate ”

With bitcoin relative to its 29000 The low point of the dollar rose more than 50%, Shanzhai coins also began to recover , Ethereum is no exception .

This largest counterfeit coin has broken through 3000 dollar , This level is being retested as support this week .

Although people's attention is focused on bitcoin recovery 5 Ten thousand dollars , But after Ethereum successfully deployed the London hard fork earlier this month , The optimism surrounding Ethereum is still high .

Partly due to supply changes driven by hard bifurcation , stay BTC/USD Before trying to reach an all-time high , The liquidity shortage may eventually ETH/USD To a new historical peak .

Ki In conclusion :“ In the long term ,ETH It might be better than BTC Set an all-time high earlier .”

“ And BTC comparison , Current ETH The price is closer to an all-time high . Demand is increasing , Reduced supply .ETH The seller's liquidity crisis is still intensifying , and BTC Exchange reserves are 5 The downward trend stopped in January .”

BTC Exchange reserve chart source :CryptoQuant

In terms of numbers , Bitcoin exchange reserves from 5 The month began to fall , until 7 Until the end of the month . Bitcoin exchange reserves from 7 month 26 Japan 254 The peak of 10000 dropped to... This week 244 over .

by comparison ,ETH Exchange reserves from 5 Record at the end of the month 2143 Since the local high of 10000 pieces , Basically showing a linear downward trend . As of this week , exchange ETH The balance is about 1925 over .

ETH Exchange reserve chart source :CryptoQuant

The war of supply shock

Ki Not the only one who predicted that Ethereum would usher in a more crazy bull market than bitcoin .

According to the Cointelegraph reports , Bloomberg Intelligence Support was also expressed in a recent report ETH Instead of BTC, It is even predicted that the status of bitcoin will be replaced by Ethereum “ Flip ”.

meanwhile , The data continues to show , The supply shock of bitcoin is also in progress , This has caused the rise of bitcoin price in history .

analysts William Clemente Analyze resources on the comment chain Glassnode The latest data indicates :“ In the last few months , Illiquid supply shock ratio has always been a good leading indicator .”

“ The impact of two aspects led to the follow-up trend of prices . As indicators continue to rise slowly , At present, bitcoin is waiting for the impact to 58000 dollar .”

Note diagram of bitcoin supply impact source :William Clemente/ twitter


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