Data: Since the approval of the Ethereum ETF 19b-4 application, over $3 billion worth of Ethereum has been withdrawn from CEX
Since the United States approved Ethereum ETF 19b-4 application on May 23, the amount of Ethereum on exchanges has decreased by about 797,000 coins, equivalent to $3.02 billion. Lower exchange reserves mean fewer tokens available for sale as investors move their tokens to self-custody for purposes other than immediate sale.
Data shared by BTC-ECHO analyst Leon Waidmann from Glassnode shows that the percentage of circulating supply of Ethereum held by exchanges is also at its lowest level in many years, only 10.6%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Big iron ore miners deplete reserves faster than they replace
The Federal Reserve signals continued interest rate hikes; the U.S. dollar posts its largest single-week gain in over three months.
After the Federal Reserve signaled continued interest rate hikes in the future, the US dollar strengthened significantly this week, marking its largest single-week gain in more than three months.
South Korean Won: Foreign equity flows keep KRW heavy against US Dollar – OCBC
Crypto prices
More
