Crypto Exchanges are Running Out of Ethereum and Other Cryptocurrencies

On January 14 eToro, who is an Israel-based exchange platform, reported that it is struggling to keep up with the demand for cryptocurrencies. Consequently, eToro has warned its customers that there are limitations to crypto buy orders over the weekend.

Other exchanges are also seeing increased trading volumes, such as Coinbase and Binance. Due to the high demand for cryptocurrencies, centralised crypto exchanges have also reported that they could run out of Ethereum completely within 48 hours amid high buying pressure.

Alex Saunders, who is a crypto expert and the founder of Nuggets News tweeted on January 14 about the key details why this could happen.

Other data provider Glassnode shows, that the Ethereum reserves on centralised exchanges have not been this low since July 2018.

What do you think where Ethereum is heading? Are you buying? Leave comment down below.

Resources: https://studio.glassnode.com/metrics?a=ETH&m=distribution.BalanceExchanges

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