On centralized stockings stored ether (ETH) reaches 5-year low: Data

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The Ether balance on the centralized crypto exchanges has reached a five-year low. According to the latest data from Glassnode, there are currently 17.8 million ETH to stock exchanges - a value that has not been achieved since July 2016.

  • This number essentially corresponds to less than 15 % of the total token offer of the Ethereum network. To put things in the right light: During the bull market in 2021, a foreign exchange balance of around 26 % was recorded.

ETH is stored on centralized stock exchanges. Glassnode ETH is saved on centralized exchanges. Glassnode

  • Such a trend is typically considered bullish because it means that the range of crypto-assets available for purchase is limited. In addition, there are not many ETHs that could be sold to CEXs immediately.
  • The ETH offer on the stock exchanges began to drop in September 2022. The decline was even clearer after FTX slipped into bankruptcy two months later, since the following events shook the trust of investors into centralized depot banks.
  • However, the falling ETH credit on the stock exchanges will be accompanied by an increase in operations this month. The figures of the defined ETH have increased from 19.3 million before the Shapella upgrade to over 21.3 million since the beginning of May.
  • The upgrade on April 12th essentially enabled Validators to lift their stuck ether from the Beacon after three years. It is noteworthy that more and more validators have used their ETH again, which led to a decline in the offer of token, which can be considered optimistic about price development.
  • crypto potato before it was reported that the ether operating volume exceeded the amount of the crypto asset that was deducted within a week after the Shapella upgrade.
  • The influx seems to have been promoted by institutional providers of pilot services and investors who put on the rewards after withdrawing.

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