Ether Held on Centralized Exchanges Drops to 8.97 Million Tokens
The number of ether held in centralized exchange wallets has fallen to 8.97 million, the lowest level since November 2015. This decline indicates a trend of investors moving ETH to cold storage, which may decrease market liquidity and potentially drive prices up.
- ETH reserves on exchanges are at a nine-year low
- Similar patterns with BTC saw prices rise after exchange reserves dropped
- BTC reserves hit a seven-year low in January, leading to a price increase from $90K to over $109K
