While Ether (ETH) price has been stuck between the $340-$350 range for the last month, multiple on-chain metrics suggest that a recovery may be building.
Santiment, a cryptocurrency data analytics firm, recently noted that the number of deposits to exchanges has been decreasing since the start of September. According to the firm, the number of addresses used to send Ether to exchanges has seen a 53% decline since Sept. 1.
Ether daily deposits in the last 6 months. Source: Santiment