ONUS Posted March 26 Share Posted March 26 In March 2024, the amount of Ethereum (ETH) on centralized exchanges (CEX) has been steadily increasing. Data from Glassnode indicates that this uptrend began at the start of the month and has persisted up to the present moment. This represents a notable shift from a previous downward trend that had lasted for two months. The amount of ETH on CEX (Source: Glassnode). An important event for Ethereum's development is the DenCun upgrade. This upgrade took place on March 13th, and since then, the price of ETH has been consistently declining. Concurrently, after March 13th, the amount of ETH being deposited onto exchanges started to increase significantly. From an investment psychology standpoint, the DenCun upgrade can be seen as an example of the common adage in the investment community: "buy the rumor, sell the news." Although the DenCun upgrade brings many benefits such as significantly reduced transaction fees and boosts trading activity on Layer 2, it doesn't immediately have a positive impact on the price of 1 ETH = VND. This indicates that the market often evaluates events over an extended period and may react in a more nuanced manner than initially anticipated. Link to comment Share on other sites More sharing options...
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