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Ethereum balance on crypto exchanges falls to lowest levels since 2018 -Breaking


© Reuters

The amount of Ethereum‘s native token Ether (ETH) kept with crypto exchanges has fallen to its lowest levels since September 2018, signaling traders‘ intention to hold the tokens in hopes of a price rally in 2022.

Notably, nearly 550,000 ETH — worth around $1.61 billion — have left centralized trading platforms year-to-date, AccordingGlassnode provided the data. The massive outflow has reduced the exchanges‘ net-Ether balance to 21.72 million ETH, down from its record high of 31.68 million ETH in June 2020.

All exchanges have Ethereum balance as of March 18, 2022. Glassnode
Ethereum net exchange flows. Source: InToTheBlock
Daily price chart. Source: TradingView