Ethereum (ETH) Net Flows Surpass Bitcoin (BTC)

The crypto market is on its way to recovery after a short period of correction. At the moment of writing this article, the most important coins in the crypto market are trading in the green.

Bitcoin is currently priced at $41,293 and ETH is also trading in the green and the coin is trading at $3,109.

Ethereum net flow continues to surpass Bitcoin. Check out the following tweet:

ETH net flows continue to surpass BTC pic.twitter.com/souXM0HyRK

— zerohedge (@zerohedge) April 13, 2022

Crypto trader and analyst Will Clemente said the following about Bitcoin:

On only 3 other occasions have we ever seen Bitcoin withdrawn from exchanges at this rate. pic.twitter.com/oQZcIf1WYM

— Will Clemente (@WClementeIII) April 13, 2022

Someone else said: “Exchange balances of #Bitcoin peaked at the March 13, 2020 bottom. Plebs keep stacking and moving their coins offline, regardless of the price.”

It means $BTC is being taken off exchanges at a very high rate. Presumably, the #BTC is moved to cold storage where they are “not for sale”, similar to keeping jewelry in a safety deposit. It’s important to note that this is a supply focused metric:https://t.co/2MrYERzcRa

— The Chain Reaction (@TheChainRN) April 13, 2022

It’s been revealed that the crypto analytics firm Santiment is really bullish about Ethereum. Check out the latest reports coming from them below.

The firm just revealed the bullish prospects that it has for Ethereum. In a new blog post, Santiment said that the Market Value to Realized Value (MVRV) metric of Ethereum (ETH) over the past seven days (7D) shows that ETH is near the “opportunity zone.” Just in case you don’t know, this is where typically the price bottoms out.

The MVRV is used to show the average profit or loss of all coins in circulation at the prevailing price, according to the online publication the Daily Hodl. This is calculated as market capitalization over the acquisition costs of the assets in a wallet.