ETH has all the kindling available for a moonshot

Bitcoin has been the talk of the town these last few weeks but ETH has quietly been building as well.

The price hasn't done much, but looking under the hood, the underlying fundamentals are signalling a move up in the price could be right around the corner.

First up we have the increase in addresses holding at least 32 ETH.

Over the last month or so we have seen a somewhat sharp rise in the number of ETH wallets holding at least 32 ETH.

Check it out:

(Source:

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While these don't exactly represent only whale sized activity, that amount is a little under $15k at current prices which isn't exactly peanuts.

Month over month has seen almost a 5% increase in those sized wallets.

But wait there's more...

Not only are wallets with at least 32 ETH in them increasing over the last month or so, but we are also seeing ETH leaving exchanges in pretty significant fashion.

Which somewhat makes sense as the ETH leaving exchanges has to go somewhere.

Over the last couple months ETH sitting on exchanges has dropped from almost 19k to under 16k currently.

For those doing the math, that is roughly a 16% drop in a matter of a couple months!

(Source:

1326104207510933504/photo/3) twitter metadata:ZWxpYXNpbW9zfHxodHRwczovL3R3aXR0ZXIuY29tL2VsaWFzaW1vcy9zdGF0dXMvMTMyNjEwNDIwNzUxMDkzMzUwNC9waG90by8zKXw= ~~~

This is interesting because this is happening while the price is relatively flat over this same time period as you can see on the chart above.

With available supply decreasing it won't take much demand coming in to push the price skyward.

And with with Ethereum 2.0 getting ever closer by the week, that demand driver may be just around the corner.

Stay informed my friends.

-Doc