Ethereum (ETH) is facing increasing selling pressure on the spot side following signs of cracks in US-Iran peace talks. With Oil prices surging higher, the top altcoin has failed to recover the $2,300 key level on Wednesday. Exchange reserves, which measure the total number of coins held across centralized exchanges, have been on an uptrend over the past week, rising by 623K ETH from May 5 to 13. The move indicates increased selling pressure across ETH spot markets. The distribution is likely spearheaded by whales holding 10K-100K ETH, who have scaled down their collective balance by 390K since May 7. This represents ... (full story)