Ethereum has plunged below $1,700 during the past day. Here’s the on-chain indicator that may have signaled this dip in advance.
Ethereum Age Consumed Metric Saw A Spike Before The Price Decline
According to data from the on-chain analytics firm Santiment, institutional investors look to have been expecting the move to take place. The indicator of interest here is the “ETH age consumed,” which first finds the total number of coins moving on the Ethereum blockchain. Then it multiplies this value by the days these coins had been dormant before their movement.
So, in this way, the metric keeps track of how many coins are being sold/moved each day and uses their age as a weighting factor. This means that many old coins are moved to the network whenever this indicator’s value is high.
Naturally, low values of the metric, on the other hand, would imply that there aren’t many coins moving on the chain right now or some coins with a low average age are being transferred.
Now, here is
We współpracy z: https://www.newsbtc.com/news/ethereum/ethereum-plunges-1700-metric-signaled-in-advance/
