Ethereum (ETH) holders are withdrawing from centralized exchanges en masse, data says
Ethereum , the second-largest cryptocurrency, has set a crucial record: the share of its supply held on centralized exchanges has never been lower. Typically, analysts treat this as a bullish midterm signal.Share of Ethereum supply stored on centralized exchanges across the globe reached absolute low in the entire asset's history. As of late August 2024, only 9.75% of Ethers are sitting on CEXes, Glassnode data says.
The last time the Ethereum community was sending Ethers to CEXes was in March 2024, to fix profits amid its current price ATH. The process of the reduction of the ETH share on CEXes is accompanied by another major trend. Using Ethereum has never been cheaper, as gas prices target all-time lows in August 2024.
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