CryptoQuant_FA2021-08-01

ETH Supply/Demand Structure is Bullish

There are 3 significant bullish driving forces for ETH price: 1- The increasing number of accounts who deposited over 32 ETH to the deposit contract, especially after the recent market massive correction 2- The outflowing ETH from Spot Exchanges ( Spot buy pressure; Netflow < 0 peaks in recent weeks) 3- The total ETH reserve on exchanges is still declining