ETH held on crypto exchanges is at its two years minimum
Ethereum influx to cryptocurrency exchanges has fallen to its lowest level in two years. Altcoin now accounts for 13.35% of the total market supply held on trading platforms. This is the lowest level since 23 November 2018, according to the Santiment team report. According to researchers, major investors are refusing to sell ETH even amidst the stagnation of altcoin.
Santiment’s review notes that the decline in ETH inflows to the crypto exchanges demonstrates the desire of players to hold on to the cryptocurrency for as long as possible. The community is waiting for the launch of an updated version of the Ethereum network (ETH 2.0). The developers promise to introduce it in December this year.
The increase in Ethereum throughput will have a positive impact on the development of all ecosystem projects, including the decentralised funding market. There are currently 8.9 million ETHs (7.84% of all coins) “blocked” in DeFi protocols. Researchers also noted that as long as the share of ETH held on exchanges does not exceed 15% of its total supply, the coin is set to grow further. An alarming signal is usually an increase in the ETH balance on exchanges above 15%. This trend signals that players are moving towards selling this asset soon.
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