The amount of Ethereum on the major crypto exchanges has reached its lowest level in more than two years. This informs analysis company Glassnode.
Ethereum from exchange
Bloqport shared the analysis of Glassnode on Twitter. The last time so few Ethereum are available on the exchanges will be in June of 2019. This suggests that buyers will immediately take their Ethereum off the exchange and use it for staking, defi or simply putting it on a hardware wallet. In addition, traders are sending less and less ETH to the exchanges to sell.
As of July 2020, there has been a 31% drop in available ethers on exchanges, which equates to approximately 19 million coins. There are currently less than 13 million ethers parked at exchanges.
Source: Glassnode
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More and more Ethereum addresses
Glassnode pointed to an increase in the number of Ethereum addresses (by at least 0.1 ETH) in recent months. Nearly 5 million addresses now have at least 0.1 ETH, the highest level ever. Conversely, the total number of ETH addresses with at least 1000 Ethereum as of the beginning of the year has reached its lowest level in 4 years.
Just this weekend, shared Whale Alert a transaction of 40 thousand ETH from Binance to a wallet. You do need steel balls for that, however, this concerns a value of 85.6 million euros.
According to the latest data from crypto analysis firm Santiment, the top 10 ETH addresses now contain more than 19 million coins.
???????? The top 10 #Ethereum whale addresses are creeping toward a new milestone in terms of supply held. Currently holding 19.08m $ ETH, these top addresses previously held an #AllTimeHigh of 19.25m $ ETH three weeks before the price skyrocketed above $4,300. https://t.co/leF5cRKQwA pic.twitter.com/CLHFUzbK3P
– Santiment (@santimentfeed) June 2, 2021
Value goes in all directions
Ethereum’s price has remained highly volatile since early May 2021. On May 12, ETH rose to a new all-time high of EUR 3,580, but nothing was left of it two weeks later. On May 23, the coin was still worth 1550 euros. Meanwhile, the Ethereum price already recovered and it hangs in between those two amounts. At the moment you pay 2381 euros for one ether. The market capitalization is 268.7 billion euros. With this, Ethereum only has to tolerate Bitcoin. In that regard, coins may come and go, but BTC and ETH will continue to rule.
