{"id":104185,"date":"2023-06-05T00:36:45","date_gmt":"2023-06-05T00:36:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/06\/05\/how-ethereum-on-exchanges-dropped-to-a-5-year-low-crypto-news\/"},"modified":"2023-06-05T00:36:47","modified_gmt":"2023-06-05T00:36:47","slug":"how-ethereum-on-exchanges-dropped-to-a-5-year-low-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/how-ethereum-on-exchanges-dropped-to-a-5-year-low-crypto-news\/","title":{"rendered":"How Ethereum on exchanges dropped to a 5-year low\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><em><span style=\"font-weight: 400;\">Ethereum on exchanges hits a five-year low.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">The number of ETH holders grows steadily as the price hovers around $1,900.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">New data indicated a dwindling influx of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/ethereum-holders-seem-to-be-disappearing-as\/\" data-wpel-link=\"internal\">Ethereum<\/a> onto exchanges in the past few weeks.  The most recent chart analysis revealed that the current balance of Ethereum on exchanges has reached a new nadir, indicating a decline in overall liquidity on these platforms.<\/span><\/p>\n<h4><b>Ethereum on exchanges decline<\/b><\/h4>\n<p><span style=\"font-weight: 400;\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1665074800933339139?t=gcMW9HslfqE2AuMwu0GM1g&#038;s=19\" data-wpel-link=\"external\">Glassnode Alerts<\/a> recently unveiled a chart showcasing the ongoing decline of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/will-ethereum-create-a-clear-coast-for-defi-gamefi\/\" data-wpel-link=\"internal\">Ethereum<\/a> onexchanges.  It also showed that each passing day marked a new record low. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The latest data from Glassnode indicated that the current balance of ETH on exchanges stood at approximately 17.2 million, marking the lowest point witnessed in the past five years. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Comparatively, back in January, the balance on exchanges exceeded 19 million;  at the beginning of May, it surpassed 18 million.<\/span><\/p>\n<div id=\"attachment_318449\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318449\" class=\"size-full wp-image-318449\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1.png\" alt=\"Ethereum balance on exchanges\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1-300x169.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1-1024x576.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1-768x432.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_ethereum-balance-on-exchanges-eth-all-exchanges-1-1536x864.png 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318449\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">This downward trend implied a reduction in available liquidity within exchanges.  However, it is important to note that a decrease in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/is-a-bullish-breakout-possible-for-ethereum-the-metrics-and-indicators-say\/\" data-wpel-link=\"internal\">eth<\/a> on exchanges does not necessarily indicate a decrease in ETH holders.<\/span><\/p>\n<h4><b>Ethereum holders remain stable<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">While it may seem that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/are-ethereum-whales-selling-their-holdings\/\" data-wpel-link=\"internal\">Ethereum<\/a> is leaving exchanges at a higher rate than it is being deposited, the dynamics surrounding the total number of ETH holders tell a different story. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Sentiment chart showed a steady increase in the number of ETH holders.  Currently, approximately 100 million individuals hold varying amounts of ETH.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">  This growth has been gradual, with around 98.4 million holders reported at the end of April.<\/span><\/p>\n<div id=\"attachment_318450\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318450\" class=\"wp-image-318450 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"ETH total number of holders\" width=\"2560\" height=\"867\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318450\" class=\"wp-image-318450 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023.png\" alt=\"ETH total number of holders\" width=\"2560\" height=\"867\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/Ethereum-ETH-10.44.32-04-Jun-2023-2048x693.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318450\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">The declining balance on exchanges and the simultaneous growth in the number of holders can be attributed to two main factors: self-custody and staking. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Firstly, more individuals opt for self-custody, holding their ETH in personal wallets rather than leaving them on centralized exchanges.  It provides users with greater control and security over their assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Secondly, staking has become increasingly popular.  Staking involves locking up a certain amount of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/despite-ethereums-sluggish-action-stakers-unwavered\/\" data-wpel-link=\"internal\">Ethereum<\/a> to participate in the network&#8217;s proof-of-stake consensus mechanism. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In return for securing the network, stakers receive rewards in the form of additional ETH.  It incentivizes users to hold their ETH in staking contracts rather than on exchanges.  As of this writing, the total number of ETH deposits for staking was over 780,000 and growing.<\/span><\/p>\n<h4><b>The ETH TVL and price<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/Ethereum?tvl=true\" data-wpel-link=\"external\">DefiLlama<\/a>Ethereum&#8217;s dominance in terms of Total Value Locked (TVL) remained steadfast.  As of this writing, the TVL stood at approximately $27.35 billion, accounting for over half of the overall TVL.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">  This signified a continual influx of liquidity into the Ethereum ecosystem, emphasizing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/what-ethereums-declining-gas-fees-means-for-the-network\/\" data-wpel-link=\"internal\">ETH&#8217;s<\/a> ongoing relevance and significance.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-eth-to-usd\" data-wpel-link=\"internal\">1,10,100 ETHs worth<\/a> today<\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">Additionally, a glance at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" data-wpel-link=\"external\">CoinMarketCap<\/a> the data revealed that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/ethereum-bulls-rejected-from-1915-again-as\/\" data-wpel-link=\"internal\">eth<\/a> boasted the third-highest trading volume in the last 24 hours.  The total volume of the entire cryptocurrency market surpassed $19 billion, with ETH contributing over $3 billion in trading volume. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, ETH maintained its position as the second-largest cryptocurrency by market capitalization, trailing behind Bitcoin.  As of this writing, ETH was trading at approximately $1,900.<\/span><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum on exchanges hits a five-year low. The number of ETH holders grows steadily as the price hovers around $1,900. New data indicated a dwindling influx of Ethereum onto exchanges in the past few weeks. The most recent chart analysis revealed that the current balance of Ethereum on exchanges has reached a new nadir, indicating [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":104186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-104185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=104185"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104185\/revisions"}],"predecessor-version":[{"id":104187,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104185\/revisions\/104187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/104186"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=104185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=104185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=104185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}