Around $ 560 million ETH left the crypto exchanges on March 4, although the digital asset is nearing a new high. The departure currently corresponds to a 19-month low in the amount of ether held on exchanges. So far, Ethereum recorded its worst low in August 2019. At this point the ETH was around $ 220. At the time of going to press, ETH is up 0.58% to $ 2,105.16.
Currently the amount of ETH left on crypto exchanges is 14.7 million. This corresponds to around 30 billion US dollars or 12.8% of the total offer at ETH.
In addition, the Ethereum whales are in decline. According to Glassnode dataThe number of wallets with over 1,000 ETH (USD 2,057,784) hit a three-year low of 6,523 over the weekend.
Wallets larger than 100 coins ($ 205,784) have also been reduced to a 20-month low. Similarly, the number of wallets with over 10 ($ 20,587) coins or 32 coins ($ 65,851) also decreased.
The decline in the number of ethers held on exchanges may be due to whales selling their ETH holdings. In addition, investors can move their ether to cold stores or use the asset on DeFi platforms.
The movement of funds must not adversely affect the entire asset. Regardless, not much is known about why such a move took place.
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