Ethereum balance on crypto exchanges hits new lows as ETH price retakes $3K By Cointelegraph
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Ethereum balance on crypto exchanges hits new lows as ETH price retakes $3K The total amount of Ether (ETH) held by all the crypto exchanges fell to its lowest levels, just as its price rose back above $3,000 per token on Sept. 23.
Data collected by CryptoQuant, a blockchain analytics platform, showed that exchanges’ net token reserves dropped to 18.533 million ETH, compared to 23.92 million ETH a year ago. The price of one Ether went up from nearly $349 to almost $378, indicating an inverse relationship between ETH prices and exchange reserves.
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