• bitcoinBitcoin (BTC) $ 96,253.00
  • ethereumEthereum (ETH) $ 2,717.16
  • xrpXRP (XRP) $ 2.67
  • tetherTether (USDT) $ 0.999823
  • bnbBNB (BNB) $ 650.41
  • solanaSolana (SOL) $ 168.27
  • usd-coinUSDC (USDC) $ 0.999879
  • dogecoinDogecoin (DOGE) $ 0.252408
  • cardanoCardano (ADA) $ 0.760147
  • staked-etherLido Staked Ether (STETH) $ 2,716.82
  • tronTRON (TRX) $ 0.243184
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 95,955.00
  • chainlinkChainlink (LINK) $ 17.92
  • wrapped-stethWrapped stETH (WSTETH) $ 3,244.46
  • litecoinLitecoin (LTC) $ 136.41
  • stellarStellar (XLM) $ 0.334549
  • suiSui (SUI) $ 3.17
  • avalanche-2Avalanche (AVAX) $ 23.68
  • ugold-incUGOLD Inc. (UGOLD) $ 3,037.58
  • hedera-hashgraphHedera (HBAR) $ 0.216973
  • shiba-inuShiba Inu (SHIB) $ 0.000015
  • usdsUSDS (USDS) $ 0.999443
  • leo-tokenLEO Token (LEO) $ 9.66
  • the-open-networkToncoin (TON) $ 3.55
  • wethWETH (WETH) $ 2,717.32
  • hyperliquidHyperliquid (HYPE) $ 24.29
  • polkadotPolkadot (DOT) $ 4.87
  • mantra-daoMANTRA (OM) $ 7.60
  • bitcoin-cashBitcoin Cash (BCH) $ 321.64
  • ethena-usdeEthena USDe (USDE) $ 0.998276
  • bitget-tokenBitget Token (BGB) $ 4.85
  • uniswapUniswap (UNI) $ 9.52
  • wrapped-eethWrapped eETH (WEETH) $ 2,879.15
  • moneroMonero (XMR) $ 240.92
  • pepePepe (PEPE) $ 0.000009
  • whitebitWhiteBIT Coin (WBT) $ 27.12
  • aaveAave (AAVE) $ 253.18
  • ondo-financeOndo (ONDO) $ 1.20
  • aptosAptos (APT) $ 6.42
  • nearNEAR Protocol (NEAR) $ 3.15
  • daiDai (DAI) $ 0.999927
  • bittensorBittensor (TAO) $ 413.72
  • mantleMantle (MNT) $ 1.03
  • susdssUSDS (SUSDS) $ 1.04
  • official-trumpOfficial Trump (TRUMP) $ 16.87
  • internet-computerInternet Computer (ICP) $ 6.90
  • ethereum-classicEthereum Classic (ETC) $ 21.07
  • okbOKB (OKB) $ 49.53
  • gatechain-tokenGate (GT) $ 22.52
  • tokenize-xchangeTokenize Xchange (TKX) $ 35.06
  • kaspaKaspa (KAS) $ 0.105500
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.301456
  • vechainVeChain (VET) $ 0.031723
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 96,179.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.728372
  • crypto-com-chainCronos (CRO) $ 0.084034
  • algorandAlgorand (ALGO) $ 0.259239
  • render-tokenRender (RENDER) $ 4.22
  • filecoinFilecoin (FIL) $ 3.30
  • arbitrumArbitrum (ARB) $ 0.468512
  • cosmosCosmos Hub (ATOM) $ 4.67
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997157
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 95,924.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.720041
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.724074
  • optimismOptimism (OP) $ 1.13
  • celestiaCelestia (TIA) $ 3.19
  • fasttokenFasttoken (FTN) $ 3.95
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,718.06
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,814.79
  • lido-daoLido DAO (LDO) $ 1.72
  • kucoin-sharesKuCoin (KCS) $ 12.08
  • injective-protocolInjective (INJ) $ 15.04
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 95,803.00
  • xdce-crowd-saleXDC Network (XDC) $ 0.089742
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,064.47
  • nexoNEXO (NEXO) $ 1.33
  • blockstackStacks (STX) $ 0.880314
  • binance-staked-solBinance Staked SOL (BNSOL) $ 174.02
  • immutable-xImmutable (IMX) $ 0.736488
  • the-graphThe Graph (GRT) $ 0.133316
  • theta-tokenTheta Network (THETA) $ 1.27
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,872.27
  • ethenaEthena (ENA) $ 0.399721
  • raydiumRaydium (RAY) $ 4.25
  • bonkBonk (BONK) $ 0.000016
  • flare-networksFlare (FLR) $ 0.020212
  • movementMovement (MOVE) $ 0.492561
  • worldcoin-wldWorldcoin (WLD) $ 1.13
  • usual-usdUsual USD (USD0) $ 0.997727
  • sei-networkSei (SEI) $ 0.226258
  • dexeDeXe (DEXE) $ 18.40
  • telcoinTelcoin (TEL) $ 0.011425
  • jasmycoinJasmyCoin (JASMY) $ 0.021338
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 95,047.00
  • makerMaker (MKR) $ 1,154.67
  • flokiFLOKI (FLOKI) $ 0.000100
  • galaGALA (GALA) $ 0.022221
  • eosEOS (EOS) $ 0.625328
  • tezosTezos (XTZ) $ 0.869569
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.72
  • the-sandboxThe Sandbox (SAND) $ 0.362037
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,816.63
  • msolMarinade Staked SOL (MSOL) $ 213.69
  • bittorrentBitTorrent (BTT) $ 0.00000085
  • wbnbWrapped BNB (WBNB) $ 651.63
  • flowFlow (FLOW) $ 0.515627
  • iotaIOTA (IOTA) $ 0.220445
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 96,120.00
  • jito-governance-tokenJito (JTO) $ 2.59
  • roninRonin (RON) $ 1.23
  • kaiaKaia (KAIA) $ 0.128750
  • bitcoin-svBitcoin SV (BSV) $ 37.74
  • neoNEO (NEO) $ 10.60
  • pyth-networkPyth Network (PYTH) $ 0.202919
  • tether-goldTether Gold (XAUT) $ 2,929.08
  • berachain-beraBerachain (BERA) $ 6.60
  • story-2Story (IP) $ 2.75
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.41
  • chain-2Onyxcoin (XCN) $ 0.020850
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,871.35
  • axie-infinityAxie Infinity (AXS) $ 4.26
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 182.88
  • paypal-usdPayPal USD (PYUSD) $ 0.999175
  • curve-dao-tokenCurve DAO (CRV) $ 0.515248
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.252577
  • heliumHelium (HNT) $ 3.58
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,717.30
  • meowMEOW (MEOW) $ 0.007014
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.971155
  • usdx-money-usdxusdx.money USDX (USDX) $ 0.999072
  • dogwifcoindogwifhat (WIF) $ 0.615153
  • elrond-erd-2MultiversX (EGLD) $ 21.89
  • pax-goldPAX Gold (PAXG) $ 2,941.47
  • arweaveArweave (AR) $ 9.07
  • decentralandDecentraland (MANA) $ 0.315877
  • resolv-usrResolv USR (USR) $ 1.00
  • spx6900SPX6900 (SPX) $ 0.626795
  • zcashZcash (ZEC) $ 36.10
  • starknetStarknet (STRK) $ 0.223929
  • fraxFrax (FRAX) $ 0.994724
  • insurance-2INSURANCE (INSURANCE) $ 30.53
  • aerodrome-financeAerodrome Finance (AERO) $ 0.736156
  • pumpbtcpumpBTC (PUMPBTC) $ 94,603.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,716.96
  • dydx-chaindYdX (DYDX) $ 0.771967
  • conflux-tokenConflux (CFX) $ 0.113974
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,714.52
  • matic-networkPolygon (MATIC) $ 0.301603
  • pendlePendle (PENDLE) $ 3.29
  • apecoinApeCoin (APE) $ 0.673413
  • beldexBeldex (BDX) $ 0.075338
  • ecasheCash (XEC) $ 0.000026
  • aioz-networkAIOZ Network (AIOZ) $ 0.441125
  • chilizChiliz (CHZ) $ 0.053700
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.008017
  • beam-2Beam (BEAM) $ 0.009575
  • coredaoorgCore (CORE) $ 0.505438
  • morphoMorpho (MORPHO) $ 2.22
  • kavaKava (KAVA) $ 0.457622
  • true-usdTrueUSD (TUSD) $ 0.996941
  • ketKet (KET) $ 0.488761
  • compound-governance-tokenCompound (COMP) $ 54.74
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 96,210.00
  • clbtcclBTC (CLBTC) $ 96,645.00
  • gnosisGnosis (GNO) $ 181.83
  • metars-genesisMetars Genesis (MRS) $ 5.57
  • wormholeWormhole (W) $ 0.163805
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008215
  • axelarAxelar (AXL) $ 0.495186
  • newton-projectAB (prev. Newton) (AB) $ 0.010005
  • amp-tokenAmp (AMP) $ 0.005336
  • verus-coinVerus (VRSC) $ 5.71
  • apenftAPENFT (NFT) $ 0.00000045
  • tbtctBTC (TBTC) $ 96,035.00
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999513
  • quantixaiQuantixAI (QAI) $ 84.37
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 2,690.63
  • akash-networkAkash Network (AKT) $ 1.73
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.03
  • chex-tokenCHEX Token (CHEX) $ 0.420477
  • grassGrass (GRASS) $ 1.71
  • eigenlayerEigenlayer (EIGEN) $ 1.70
  • mina-protocolMina Protocol (MINA) $ 0.340950
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • thorchainTHORChain (RUNE) $ 1.16
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000074
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,966.17
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • usdbUSDB (USDB) $ 0.993456
  • ousgOUSG (OUSG) $ 110.02
  • zksyncZKsync (ZK) $ 0.106763
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,715.74
  • based-brettBrett (BRETT) $ 0.038954
  • wouldwould (WOULD) $ 0.385090
  • ai-companionsAI Companions (AIC) $ 0.381630
  • honey-3Honey (HONEY) $ 0.997256
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • deepDeepBook (DEEP) $ 0.148962
  • super-oethSuper OETH (SUPEROETHB) $ 2,718.75

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

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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