Turkish lire; Dr
- Ethereum (ETH) on exchanges has reached its lowest levels since May 2018; 115.88 million ETH is now outside centralized exchanges.
- 110,000 ETH was moved off exchanges on October 4, indicating a decline in selling pressure.
- Bitcoin (BTC) on exchanges has reached a 5-year low; The top holders control more than 66% of the circulating supply.
The lowest number in more than five years
As revealed by blockchain analytics platform Santiment, the amount of Ether (ETH) currently on cryptocurrency exchanges has dropped to 10.66 million coins. The last time this number was this low was in May 2018. Conversely, 115.88 million ETH is outside centralized exchanges, the highest mark ever.
Santiment also estimated that nearly 110,000 ETH (worth over $180 million) exited exchanges on October 4, representing the largest day of inflow since August 21.
#Ethereum Saw about 110k approx $ Ethereum ($181 million) exited exchanges on Wednesday, the biggest day of outflow since August 21. The amount of non-exchangeable Ethereum is now #AllTimeHigh 115.88 m $ Ethereumwhile the exchange supply is at its lowest level in approximately 5.5 years. https://t.co/PUOWGt0KS0 pic.twitter.com/u54pp6LZij
— Santiment (@santimentfeed) October 5, 2023
Such moves are usually seen as bullish for asset valuations because they reduce selling pressure and demonstrate investors’ long-term convictions.
The supply of BTC on exchanges has also decreased
like CryptoPotato newly mentionedThe situation with the underlying cryptocurrency is quite similar. The supply of Bitcoin (BTC) on cryptocurrency exchanges has fallen to 5.73%, or its lowest level in 5 years.
On the other hand, sharks and whales were very active, Accumulate Asset volumes are at an increasing temperature in the past few months. The latest data indicates that these investors control more than 66% of the circulating supply of Bitcoin.
The top 1% of Bitcoin addresses enjoy significant privileges, Detain Approximately 19.3 million coins (out of 19.5 million coins produced to date). Those interested in knowing who the six BTC billionaires are can watch the video below:
Free Binance $100 (Exclusive): Use this link to sign up and get free $100 and 10% off Binance Futures in your first month (conditions).
PrimeXBT Special Offer: Use this link to register and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.