The balance of Ethereum in cryptocurrency exchanges continues to decline!
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Answer The balance of Ethereum in cryptocurrency exchanges continues to decline!
Ethereum whales are moving their Ethereum coins from leading cryptocurrency exchanges to digital wallets.
According to the latest data published by the analytics platform Glassnode, the exchanges now hold the lowest amount of Ethereum since June 2019.
Cryptocurrency exchanges currently contain less than 13 million ETH, a sharp drop from around 19 million ETH recorded in July 2020.
The supply of Ethereum in exchanges has been in a downtrend since the beginning of 2021.
According to Glassnode, the amount of Ethereum in exchanges reached its lowest level in two years.
According to the glassnode, the amount of ETH dollar The CEX exchanges just reached their lowest level in two years.
Read:277 Chinese nationals arrested in the Philippines for fraud using cryptocurrency
The previous two years were observed on May 19, 2021. pic.twitter.com/CjvfmJNaa2
– Blockport Insights (Bloqbot) June 4, 2021
Glassnode also highlighted a jump in the number of Ethereum addresses (containing at least 0.1 ETH) over the past few months.
According to Glassnode, nearly 5 million addresses now hold at least 0.1 Ethereum, the highest level ever.
On the other hand, the total number of Ethereum addresses with a minimum of 1,000 Ethereum reached its lowest level in 4 years.
Ethereum network activity:
Ethereum activity has skyrocketed in the past few months amid fluctuations in the price of the world’s second largest cryptocurrency.
Large Ethereum addresses have accelerated the accumulation of Ethereum since the beginning of 2021.
According to the latest data published by the blockchain analytics company, Santiment, the ten largest Ethereum addresses hold more than 19 million Ethereum coins.
The increased activity of Ethereum whales also played an important role in the latest drop in the supply of Ethereum in cryptocurrency exchanges.
On June 5, 2021, “Whale Alert” highlighted the movement of 40,000 Ethereum coins, worth over $104 million, from Binance to an external digital wallet.
Read:Whales continue to hoard bitcoins and await decision on bitcoin ETF
The second most valuable digital currency in the world has remained extremely volatile since the beginning of May 2021.
Ethereum price saw an all-time high of around $4,330 on May 12 and touched a low of around $1,900 on May 24.
As of the time of writing this article, Ethereum is trading above $2800 with a market capitalization of $328 billion.
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