Bitcoin and Ethereum supplies on centralized exchanges have hit record lows following the introduction of crypto-related spot exchange-traded funds (ETFs) in the United States.

According to Glassnode data, Bitcoin balances on exchanges have fallen to 11.6%, the lowest since December 2017. Ethereum balances are even lower at 10.6%, the lowest since October 2015.

Spot ETFs trigger withdrawals

Market experts have explained that the declining exchange balances coincide with the Securities and Exchange Commission’s (SEC) approval of ETF products for Bitcoin and 19-b filings for Ethereum.

HeyApollo data reveals that spot Bitcoin ETFs have accumulated 857,700 BTC, valued at $58.5 billion, in just five months. BlackRock’s IBIT ETF leads this acquisition with around $20 billion in assets, followed by Fidelity’s FBTC, with approximately $11 billion.

While spot Ethereum ETFs have not yet begun trading, investor anticipation has driven significant withdrawals. According to CryptoQuant data, 777,000 ETH, worth about $3 billion, have been pulled from exchanges since the SEC’s approval.

Additionally, the option to stake ETH has influenced its declining exchange balance. Nansen reports that 32.8 million ETH, or 27% of its total supply, are currently staked to support the network.

Is a supply crunch on the way?

If the declining exchange balance trend continues, market experts have predicted demand for Bitcoin and Ethereum could lead to a supply crunch.

In a recent social media post, BTC Echo editor Leon Waidmaan advised investors to brace for a “supply squeeze” and the possibility of “the next big move.”

Historically, when digital assets are withdrawn from exchanges, it suggests investors plan to hold rather than sell, reflecting bullish sentiment and expectations of future growth. A supply squeeze could significantly impact prices by limiting the available supply, potentially leading to substantial price increases if current accumulation trends persist.

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It is looking like Like-Kind Exchanges may soon only pertain to physical real estate investments, and same for same coin/token exchanges.

Please consult with your accountant or tax preparer to learn more about how these changes could effect you in 2018.

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In this review of the Quant Network and the Overledger Network, we cover the following topics:

0:33 The Quant Network
02:00 Partners
02:50 Sia Partnership
03:53 Altcoin Buzz and Quant Network
04:49 Two Quant Network Products: GoVerify and Atlas
05:25 The team
08:42 Overledger Network
09:24 Mapps – Multi-chain apps
09:50 Quant features
10:32 Quant as the connectivity backbone
10:57 Quant network Unique Selling Point
11:49 How does one trust Overledger? – TrustTag
12:20 QNT token utility
14:27 QNT tokenomics
15:42 Gilbert Verdian interview
18:14 Competition
20:11 Community
20:52 Exchanges for buying QNT tokens
21:40 Technical Analysis
28:45 Conclusion – SWOT analysis

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Loopring is a Decentralized Exchange (DEX) built on an Ethereum Layer-2 (L2) solution called zkRollup. It has both Automated Market Maker (AMM)-based and orderbook-based exchanges.

zkRollup is an Ethereum L2 scaling solution that migrates computations off the blockchain. Loopring protocol only uses the underlying Ethereum blockchain as a data layer and a verification layer. As a result, Loopring’s throughput is as high as 2,025 trades per second compared to Ethereum’s current throughput of 15 transactions per second. The result is that the cost per trade settlement is as small as $0.00015.

Loopring’s performance is sufficient for professional traders and market makers to deploy algorithmic strategies and other automated trading bots. This was not previously possible on any DEX as it was prohibitively slow and expensive. By building on top of Loopring 3.0, orderbook-based DEXs can be commercially viable for the first time. Loopring expects non-custodial exchanges can begin to outcompete and displace many centralized counterparts.

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Please do your own due diligence and rating before making any investments and consult your financial advisor. The information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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0:50 10 Reasons to Consider Crypto.com and CRO Token
6:33 Crypto.com Partnerships

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Disclaimer:
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Please do your own due diligence and rating before making any investments and consult your financial advisor. The information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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