According to Santiment, Ethereum’s exchange supply has reached a historic low of 3.49% of the total supply, with 1.16% moving out of exchanges since June 1. With fewer tokens on centralized platforms, the amount of ETH available instantly for trading or liquidation in the short term drops dramatically.
The exodus of cryptocurrencies to cold wallets typically reflects a mindset of accumulation and confidence from investors, who prefer self-custody. Much of the funds leaving exchanges are redirected to staking contracts, where a significant portion of the total supply is already locked up, and to decentralized finance protocols.
#ETH #Ethereum #Custodia #staking #DEX $ETH $ETHW $WBETH
The exodus of cryptocurrencies to cold wallets typically reflects a mindset of accumulation and confidence from investors, who prefer self-custody. Much of the funds leaving exchanges are redirected to staking contracts, where a significant portion of the total supply is already locked up, and to decentralized finance protocols.
#ETH #Ethereum #Custodia #staking #DEX $ETH $ETHW $WBETH
