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Ethereum exchange reserves fall to lowest levels since 2016 amid price volatility

September 6, 2024Updated:September 6, 2024No Comments2 Mins Read
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Ethereum exchange reserves fall to lowest levels since 2016 amid price volatility
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Onchain Highlights

DEFINITION: The entire quantity of cash held on trade addresses.

Ethereum (ETH) stability on exchanges has seen a notable decline all through 2024. Beginning the 12 months with 14 million ETH, the trade reserves steadily decreased, dipping beneath 12.5 million in late June and reaching a low of round 11.7 million ETH by early August.

This coincided with a interval of volatility in Ethereum’s worth, which noticed fluctuations from round $4,000 in March to vital drops in late July.

Ethereum exchange reserves fall to lowest levels since 2016 amid price volatility
ETH: Alternate Stability: (Supply: Glassnode)

The present pattern displays a broader sample relationship again to 2020, the place ETH holdings on exchanges have declined steadily, reaching ranges not seen since 2016. The continued outflow from exchanges suggests elevated long-term holding conduct, doubtlessly pushed by staking, DeFi exercise, or self-custody options, as customers choose to maneuver belongings off centralized platforms.

ETH: Exchange Balance: (Source: Glassnode)ETH: Exchange Balance: (Source: Glassnode)
ETH: Alternate Stability: (Supply: Glassnode)

Disclaimer: Our writers’ opinions are solely their very own and don’t replicate the opinion of CryptoSlate. Not one of the info you learn on CryptoSlate needs to be taken as funding recommendation, nor does CryptoSlate endorse any venture which may be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies needs to be thought-about a high-risk exercise. Please do your personal due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no accountability do you have to lose cash buying and selling cryptocurrencies.



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