The winds of change are blowing through the Ethereum (ETH) ecosystem. Despite tentative signs of recovery after recent dips, the price has struggled to stay afloat in the last 30 days. Additionally, a more intriguing trend has emerged: a mass exodus of ETH from cryptocurrency exchanges. This movement, marked by declining exchange supply and net outflows, has analysts buzzing with potential bullish implications. Related Reading: Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak Dwindling Stockpiles: Exchanges Feeling The Squeeze For years, cryptocurrency exchanges have served as the lifeblood of the digital asset market. They provide the platform for buying, selling, and trading cryptocurrencies, with a significant portion of any given coin’s total supply residing within their digital vaults. However, when it comes to ETH, a dramatic shift seems to be underway. According to a recent analysis of on-chain data, the balance of ETH on exchanges has plummeted to its lowest level in eight years, hovering around a mere 10.20%. This translates to a significant portion of ETH holders withdrawing their coins from exchanges, ef ..
Support the originator by clicking the read the rest link below.
