ETH sold nearly 1 million a week, BTC fell below $6,500

During the week between September 6 and 13, Ethereum sell-off continued, with an estimated 10,000 ETH ($206 million) sold in the market.

Trustnodes analyzed and calculated the blockchain data provided by Santiment and found that in the past week, when Ethereum flashed to a low of $167, it was estimated that a total of 944,582 ETH was sold. This number is based on the difference between the number of ETH sent to the exchange and the number of ETH taken from the exchange during the same time period.

It is also assumed that if more ETH are deposited rather than taken, then the difference is the additional ETH selling pressure. If the number is positive, the ETH stored is more than the one taken, otherwise it is negative. The correlation seems to be more obvious, at least recently, especially on September 12. On the same day, more than 302,000 ETH were sent to the exchange, and the price once fell to a low of $167, but since then the selling pressure has decreased drastically and prices have risen.

The week between September 6 and 13 is likely to be the longest period of continuous increase in selling pressure, during which a large number of ETH deposits are sold on the exchange. This can be seen more clearly in the annual chart, and the February high can be ignored because the exchange Poloniex transferred its funds after being acquired by Circle.

It can be seen that in some days, more ETH were sold in a day than in the past, and more ETH were taken out in December last year. However, visually, the past week seems to be the most extensive and rapid period of ETH selling, which may indicate that the last batch of holders seem to have given up and succumbed to the bear market.

Citicoins market: BTC short-term decline mainstream currency general increase

This morning, the BTC fell for a short time and fell below $6,500. The mainstream currency has generally increased.

  1. The global market value of the digital money market is US$204.07 billion, and the volume of 24h is US$10.25 billion.

  2. The current global average price of BTC is $6515.21. Among the three major exchanges, the price on the Huobi is $6503.05, the price on OKEx is $6506.52, and the price on the Binance is $6502.69.

  3. According to the cryptocurrency market, other mainstream currencies are as follows: BCH temporarily reported 458.30 US dollars (+4.47%), ETH temporarily reported 222.74 US dollars (+2.38%), ETC price temporarily reported 11.23 US dollars (+1.03%), LTC report was US$57.33 (+1.81%) and the EOS was temporarily reported at US$5.42 (+1.58%).

  4. The top three market price increases in the top 100 currencies: AOA (+54.84%), CSI (+20.98%), FUN (+18.34%). The top three declines were: DROP (-10.85%), RHOC (-6.36%), and burst price (-5.76%).