Latest data from analytic platform CryptoQuant reveals that Bitcoin reserves on centralized exchanges have plummeted to levels not seen since November 2018, currently standing at 2.68 million BTC.
This sharp decline suggests a growing trend among investors to move their assets into cold storage, reducing the available trading supply. This shift has the potential to significantly impact market liquidity and future price movements.
Historically, Bitcoin's price has shown a tendency to increase as exchange reserves dwindle. This correlation suggests that the decreasing supply of Bitcoin available for trading is exerting upward pressure on prices, driven by scarcity.
This scarcity trend isn’t limited to Bitcoin. Ethereum reserves on centralized exchanges have also seen a dramatic reduction. CryptoQuant statistics indicate that Ethereum reserves have been consistently drained over the past few years.
Specifically, from Q3 2021, when Ethereum reserves on exchanges were over 32 million ETH, the figure has steadily declined to the current level of 16 million ETH. This significant reduction in available supply could further drive up the value of Ethereum as scarcity becomes a more prominent factor.
Amid this increasing scarcity landscape, DigiHorse (DIGI) is strategically positioned to benefit from the resulting market dynamics. As investors seek opportunities to capitalize on the scarcity of major cryptocurrencies like Bitcoin and Ethereum, DigiHorse offers a compelling proposition.
DigiHorse is currently running an incredible presale, offering 450,000,000 DIGI tokens at an initial rate of just $0.003333 per token. The token is projected to rise to $0.075 upon listing, representing a potential 2,150% gain for early investors. This attractive presale is capturing attention as the cryptocurrency market becomes increasingly driven by scarcity and supply constraints.
Notably, DigiHorse’s unique ecosystem combines the thrill of blockchain-based gaming with the potential for significant returns. With the cryptocurrency market increasingly driven by scarcity and supply constraints, DigiHorse is emerging as a strong contender for those looking to diversify their portfolios and tap into new growth opportunities.
Investors are encouraged to explore DigiHorse (DIGI) as a potential vehicle for capitalizing on the scarcity-driven trends currently shaping the broader cryptocurrency market.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.