Data: Since the approval of the Ethereum ETF 19b-4 application, over $3 billion worth of Ethereum has been withdrawn from CEX
Since the United States approved Ethereum ETF 19b-4 application on May 23, the amount of Ethereum on exchanges has decreased by about 797,000 coins, equivalent to $3.02 billion. Lower exchange reserves mean fewer tokens available for sale as investors move their tokens to self-custody for purposes other than immediate sale.
Data shared by BTC-ECHO analyst Leon Waidmann from Glassnode shows that the percentage of circulating supply of Ethereum held by exchanges is also at its lowest level in many years, only 10.6%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Circle issues 500 million USDC on Solana
Uzbekistan approves the use of stablecoins for payments under new sandbox mechanism
20,000 ETH transferred out from a certain exchange, worth $61.21 million
The probability of "OpenSea launching a token this year" rises to 52% on Polymarket