On-chain data shows the Ethereum exchange supply has declined to an all-time low recently, suggesting that investors may be accumulating.
Ethereum Supply On Exchanges Has Continued Its Downtrend Recently
According to data from the on-chain analytics firm Santiment, ETH on exchanges is now at its lowest since the cryptocurrency started trading publicly in July 2015. The “ETH supply on exchanges” is an indicator that measures the percentage of the total Ethereum circulating supply that’s currently sitting in the wallets of all centralized exchanges.
When the value of this metric goes up, it means the investors are depositing their coins in the wallets of exchanges currently. Since one of the main reasons why holders may transfer their ETH to these platforms is for selling-related purposes, this kind of trend can have bearish implications for the price.
On the other hand, a decrease in the indicator’s value implies the…
