Ethereum’s balance on exchanges has hit a five-year low, with only 86% of the total ETH supply present on centralized exchanges, leading to speculation about the future price action of the world’s second-largest cryptocurrency.
Ethereum (ETH) balances on cryptocurrency exchanges have plunged to a five-year low, triggering speculation on its future price action.
Intriguing developments have always marked the ebb and flow of the cryptocurrency market, and this coming week is no exception.
The show’s star is ether, the world’s second- largest digital currency, quietly making headlines owing to an intriguing phenomenon – its balance on exchanges is nearing an all-time low.
The question on everyone’s mind is: what could this mean for future of the ETH?
Data from Glassnode paints a compelling picture. As of May 26, out of the total Ethereum (ETH) supply of 120.26 Million, a mere 16.64 Million is present on centralized exchanges, suggesting that 86 percent of the Ethereum (ETH) supply is lying dormant.
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