Ethereum exchange balances dropped to a nine-year low of 14.8 million ETH as digital asset treasury firms and exchange-traded funds accelerate buying.
The amount of Ethereum held on centralized crypto exchanges has fallen to its lowest level since 2016 amid an increase in institutional accumulation.
The amount of Ether (ETH) on exchanges has been falling since mid-2020. Over the last two years, ETH supply on exchanges has been slashed by half.
The ETH exchange exodus accelerated in mid-July and has declined 20% since then amid aggressive accumulation by digital asset treasuries. As of Thursday, it is down to 14.8 million ETH, according to Glassnode.
