• bitcoinBitcoin (BTC) $ 97,875.00
  • ethereumEthereum (ETH) $ 2,733.17
  • xrpXRP (XRP) $ 2.81
  • tetherTether (USDT) $ 1.00
  • solanaSolana (SOL) $ 199.26
  • bnbBNB (BNB) $ 662.47
  • usd-coinUSDC (USDC) $ 0.999944
  • dogecoinDogecoin (DOGE) $ 0.281593
  • cardanoCardano (ADA) $ 0.810448
  • staked-etherLido Staked Ether (STETH) $ 2,733.21
  • tronTRON (TRX) $ 0.232434
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 97,642.00
  • chainlinkChainlink (LINK) $ 19.52
  • suiSui (SUI) $ 3.58
  • avalanche-2Avalanche (AVAX) $ 26.88
  • stellarStellar (XLM) $ 0.360885
  • wrapped-stethWrapped stETH (WSTETH) $ 3,256.50
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • hedera-hashgraphHedera (HBAR) $ 0.236929
  • litecoinLitecoin (LTC) $ 129.80
  • the-open-networkToncoin (TON) $ 3.87
  • leo-tokenLEO Token (LEO) $ 9.83
  • hyperliquidHyperliquid (HYPE) $ 26.66
  • usdsUSDS (USDS) $ 0.999476
  • wethWETH (WETH) $ 2,733.75
  • polkadotPolkadot (DOT) $ 5.20
  • mantra-daoMANTRA (OM) $ 7.01
  • bitcoin-cashBitcoin Cash (BCH) $ 345.08
  • bitget-tokenBitget Token (BGB) $ 5.39
  • uniswapUniswap (UNI) $ 10.11
  • ethena-usdeEthena USDe (USDE) $ 0.999830
  • wrapped-eethWrapped eETH (WEETH) $ 2,895.91
  • official-trumpOfficial Trump (TRUMP) $ 22.04
  • pepePepe (PEPE) $ 0.000010
  • moneroMonero (XMR) $ 233.83
  • nearNEAR Protocol (NEAR) $ 3.57
  • ondo-financeOndo (ONDO) $ 1.32
  • aaveAave (AAVE) $ 262.84
  • whitebitWhiteBIT Coin (WBT) $ 27.07
  • aptosAptos (APT) $ 6.15
  • mantleMantle (MNT) $ 1.05
  • daiDai (DAI) $ 0.999861
  • internet-computerInternet Computer (ICP) $ 7.26
  • bittensorBittensor (TAO) $ 395.77
  • susdssUSDS (SUSDS) $ 1.04
  • ethereum-classicEthereum Classic (ETC) $ 21.45
  • okbOKB (OKB) $ 51.93
  • gatechain-tokenGate (GT) $ 23.60
  • vechainVeChain (VET) $ 0.035703
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.325906
  • kaspaKaspa (KAS) $ 0.107107
  • algorandAlgorand (ALGO) $ 0.300284
  • jupiter-exchange-solanaJupiter (JUP) $ 0.956173
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 97,848.00
  • crypto-com-chainCronos (CRO) $ 0.091500
  • render-tokenRender (RENDER) $ 4.81
  • tokenize-xchangeTokenize Xchange (TKX) $ 30.16
  • filecoinFilecoin (FIL) $ 3.55
  • cosmosCosmos Hub (ATOM) $ 5.02
  • arbitrumArbitrum (ARB) $ 0.497196
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.809428
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999017
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,789.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.557270
  • fasttokenFasttoken (FTN) $ 3.94
  • lido-daoLido DAO (LDO) $ 1.88
  • celestiaCelestia (TIA) $ 3.20
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,737.87
  • raydiumRaydium (RAY) $ 5.66
  • binance-staked-solBinance Staked SOL (BNSOL) $ 206.40
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,834.35
  • optimismOptimism (OP) $ 1.16
  • xdce-crowd-saleXDC Network (XDC) $ 0.099565
  • injective-protocolInjective (INJ) $ 15.57
  • ethenaEthena (ENA) $ 0.482431
  • kucoin-sharesKuCoin (KCS) $ 12.30
  • blockstackStacks (STX) $ 0.987029
  • bonkBonk (BONK) $ 0.000019
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 96,326.00
  • immutable-xImmutable (IMX) $ 0.823234
  • theta-tokenTheta Network (THETA) $ 1.43
  • quant-networkQuant (QNT) $ 97.05
  • movementMovement (MOVE) $ 0.587130
  • the-graphThe Graph (GRT) $ 0.144400
  • nexoNEXO (NEXO) $ 1.37
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,062.59
  • worldcoin-wldWorldcoin (WLD) $ 1.30
  • flare-networksFlare (FLR) $ 0.021756
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,885.74
  • sei-networkSei (SEI) $ 0.244366
  • usual-usdUsual USD (USD0) $ 0.997303
  • jasmycoinJasmyCoin (JASMY) $ 0.023439
  • galaGALA (GALA) $ 0.024644
  • eosEOS (EOS) $ 0.670787
  • dexeDeXe (DEXE) $ 17.74
  • the-sandboxThe Sandbox (SAND) $ 0.410724
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 94,616.00
  • msolMarinade Staked SOL (MSOL) $ 252.90
  • flokiFLOKI (FLOKI) $ 0.000102
  • tezosTezos (XTZ) $ 0.918521
  • jito-governance-tokenJito (JTO) $ 3.21
  • ethereum-name-serviceEthereum Name Service (ENS) $ 27.45
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.40
  • iotaIOTA (IOTA) $ 0.248376
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,833.55
  • bittorrentBitTorrent (BTT) $ 0.00000088
  • makerMaker (MKR) $ 1,009.52
  • flowFlow (FLOW) $ 0.532748
  • wbnbWrapped BNB (WBNB) $ 663.28
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 216.51
  • pyth-networkPyth Network (PYTH) $ 0.227171
  • neoNEO (NEO) $ 11.50
  • telcoinTelcoin (TEL) $ 0.010392
  • bitcoin-svBitcoin SV (BSV) $ 39.99
  • roninRonin (RON) $ 1.27
  • kaiaKaia (KAIA) $ 0.134285
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 97,663.00
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.53
  • spx6900SPX6900 (SPX) $ 0.802762
  • usddUSDD (USDD) $ 1.00
  • axie-infinityAxie Infinity (AXS) $ 4.56
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.281877
  • chain-2Onyxcoin (XCN) $ 0.022192
  • dogwifcoindogwifhat (WIF) $ 0.718147
  • tether-goldTether Gold (XAUT) $ 2,883.43
  • heliumHelium (HNT) $ 3.96
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.010959
  • curve-dao-tokenCurve DAO (CRV) $ 0.531429
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,884.86
  • aerodrome-financeAerodrome Finance (AERO) $ 0.857560
  • elrond-erd-2MultiversX (EGLD) $ 23.43
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,732.36
  • decentralandDecentraland (MANA) $ 0.340797
  • arweaveArweave (AR) $ 9.71
  • fraxFrax (FRAX) $ 0.996290
  • berachain-beraBerachain (BERA) $ 5.84
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.999480
  • pendlePendle (PENDLE) $ 3.77
  • starknetStarknet (STRK) $ 0.240130
  • dydx-chaindYdX (DYDX) $ 0.823144
  • pax-goldPAX Gold (PAXG) $ 2,908.79
  • conflux-tokenConflux (CFX) $ 0.120867
  • beam-2Beam (BEAM) $ 0.011186
  • matic-networkPolygon (MATIC) $ 0.326202
  • chilizChiliz (CHZ) $ 0.061248
  • resolv-usrResolv USR (USR) $ 1.00
  • pumpbtcpumpBTC (PUMPBTC) $ 95,244.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,734.08
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,733.07
  • meowMEOW (MEOW) $ 0.006158
  • coredaoorgCore (CORE) $ 0.556454
  • insurance-2INSURANCE (INSURANCE) $ 29.10
  • apecoinApeCoin (APE) $ 0.745584
  • ecasheCash (XEC) $ 0.000027
  • wormholeWormhole (W) $ 0.185408
  • aioz-networkAIOZ Network (AIOZ) $ 0.461377
  • zcashZcash (ZEC) $ 33.30
  • kavaKava (KAVA) $ 0.485216
  • ai16zai16z (AI16Z) $ 0.469729
  • beldexBeldex (BDX) $ 0.075143
  • compound-governance-tokenCompound (COMP) $ 57.88
  • reserve-rights-tokenReserve Rights (RSR) $ 0.009022
  • true-usdTrueUSD (TUSD) $ 0.998438
  • newton-projectAB DAO (AB) $ 0.011085
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 97,864.00
  • amp-tokenAmp (AMP) $ 0.005820
  • thorchainTHORChain (RUNE) $ 1.38
  • morphoMorpho (MORPHO) $ 2.17
  • clbtcclBTC (CLBTC) $ 97,555.00
  • fartcoinFartcoin (FARTCOIN) $ 0.479063
  • akash-networkAkash Network (AKT) $ 1.93
  • based-brettBrett (BRETT) $ 0.046826
  • story-2Story (IP) $ 1.84
  • gnosisGnosis (GNO) $ 176.90
  • axelarAxelar (AXL) $ 0.498826
  • tbtctBTC (TBTC) $ 97,611.00
  • quantixaiQuantixAI (QAI) $ 85.74
  • mina-protocolMina Protocol (MINA) $ 0.365823
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000080
  • chex-tokenCHEX Token (CHEX) $ 0.438354
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,719.00
  • apenftAPENFT (NFT) $ 0.00000044
  • eigenlayerEigenlayer (EIGEN) $ 1.77
  • deepDeepBook (DEEP) $ 0.170463
  • olympusOlympus (OHM) $ 25.80
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.01
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999790
  • zksyncZKsync (ZK) $ 0.111904
  • super-oethSuper OETH (SUPEROETHB) $ 2,734.83
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,979.43
  • usdbUSDB (USDB) $ 1.01
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • grassGrass (GRASS) $ 1.63
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,733.89
  • verus-coinVerus (VRSC) $ 5.04
  • 1inch1inch (1INCH) $ 0.272457
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08
  • echelon-primeEchelon Prime (PRIME) $ 6.89

Ethereum (ETH) Supply Reaches February 2023 Highs While Price Keeps Struggling

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Ethereum (ETH) Supply Reaches February 2023 Highs While Price Keeps Struggling

Ethereum’s circulating supply has surged over the past week, reaching levels not seen since February 2023. On-chain data reveals that 12,353 ETH valued above $39 million have been added to circulation over the past seven days.

This comes amid a drop in the network’s demand, which has impacted ETH’s performance.

Ethereum Faces Inflationary Pressure as Circulating Supply Spikes

Ethereum’s circulating supply, which measures the number of coins or tokens currently available to the public, has rocketed by an additional 12,353 ETH in the past seven days. This brings the coin’s total circulating supply to 120.51 million ETH, a high last recorded in February 2023.

Usually, ETH sees a spike in its circulating supply when user activity on the Ethereum network declines. According to Artemis, this has been the case for the proof-of-stake (PoS) network.

Ethereum (ETH) Supply Reaches February 2023 Highs While Price Keeps Struggling

ETH Circulating Supply. Source: Ultrasoundmoney

In the past week, the number of unique addresses that have completed at least one transaction involving the altcoin has dropped 4%. As a result, the number of daily transactions executed on Ethereum has decreased by 1% during the same period.

The past week’s decline in Ethereunm’s user activity is reflected by the falling total value locked (TVL) across its decentralized finance (DeFi) ecosystem. Per DefiLlama, this has dropped by 4% during the review period.

Ethereum (ETH) Supply Reaches February 2023 Highs While Price Keeps Struggling

ETH TVL. Source: DefiLlama

ETH Price Prediction: Will It Break Below $3,000?

The decline in activity on the Ethereum network has impacted ETH’s demand, causing its price to drop 4% in the past seven days. An assessment of the ETH/USD one-day chart reveals that buying activity remains minimal among market participants.

Readings from its Moving Average Convergence Divergence (MACD) indicator confirm this bearish outlook. As of this writing, the leading altcoin’s MACD line (blue) rests below its signal line (orange).

The market trend is bearish when this momentum indicator is set up this way. It indicates that selling activity exceeds accumulation among market participants, hinting at a potential extension of ETH’s price decline.

Ethereum (ETH) Supply Reaches February 2023 Highs While Price Keeps Struggling

ETH Price Analysis. Source: TradingView

In this scenario, ETH’s price could slip below $3,000 to trade at $2,945. However, if the coin witnesses a surge in new demand, this could drive its value toward $3,369.

Source

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