KEYTAKEAWAYS
- Ethereum on exchanges drops to 8.97M, lowest since 2015. Signals long-term holding trend and reduced sell pressure.
- Funding rates turn neutral, showing balanced market sentiment. No clear bullish or bearish trend in the short term.
- Bitcoin mining difficulty rises to 113.76T, near all-time high. Indicates growing network power and miner participation.
CONTENT
ETHEREUM SUPPLY ON CEX HITS 9-YEAR LOW
On March 24, data from CryptoRank and Santiment shows that the amount of Ethereum (ETH) held on centralized exchanges (CEX) has dropped to just 8.97 million ETH — the lowest level since November 2015.
Analysis:
When ETH moves from exchanges to personal wallets, DeFi platforms, or staking contracts, it usually means investors plan to hold it for the long term, not sell or trade it soon.
Less ETH on exchanges = less ETH available for selling. This can reduce sell pressure in the market.This trend is seen as bullish in the long run, showing growing confidence in ETH and stronger use in the DeFi ecosystem.
However, in the short term, it may not push ETH price up immediately. We still need to watch market demand and liquidity.
CRYPTO MARKET FUNDING RATES TURN NEUTRAL
As of March 24, data from Coinglass shows that funding rates on major CEXs and DEXs are now neutral. This means the market is no longer strongly bearish, but not bullish either.
Analysis:
Funding rate is an important signal in futures trading. It shows the balance between long and short positions:
- Positive rate: Long traders pay fees to short traders → market is more bullish.
- Negative rate: Short traders pay fees to long traders → market is more bearish.
- Near zero (neutral): Long and short positions are balanced → market is uncertain.
Right now, bearish pressure has eased, but there’s no strong bullish signal yet.Short-term, the market may continue to move sideways.Investors should also watch external factors like U.S. Federal Reserve policy and ETF fund flows.
BITCOIN MINING DIFFICULTY NEARS ALL-TIME HIGH
On March 24, Cloverpool data shows that Bitcoin mining difficulty increased by 1.43% at block height 889,056 — now at 113.76T, very close to the all-time high of 114.17T.
Analysis:
Mining difficulty shows how hard it is to mine a new Bitcoin block.It adjusts every 2,016 blocks (about every 14 days) to keep block time around 10 minutes.
- Increase in difficulty: Means network hash power went up — more miners or stronger machines joined.
- Decrease in difficulty: Means some miners left or hash power dropped — network adjusts to stay on track.
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