Ethereum holders might be elated to know this about exchange balance

Ethereum [ETH] holders might be elated to know this about exchange balance

crash sent shockwaves through the crypto world, causing many holders to question the safety of keeping their assets on exchanges.experienced a decrease in exchange balances in the months following the crash, this trend can be attributed to other factors beyond fear of exchange insecurity.Glassnode alertsAs of this writing, the exchange balance had reached a five-year low, hovering just above $18 million.

Currently, the netflow of ETH on exchanges remains negative, with outflow continuing to dominate. At the time of writing, the netflow had surpassed 11,000 ETH already, highlighting the ongoing trend of ETH holders moving their assets away from exchanges.One possible factor is the rise of decentralized finance platforms built on thenetwork. Many holders have moved their funds from centralized exchanges to DeFi protocols to earn higher yields.

The yields come through liquidity provision, staking, or other forms of participation in decentralized finance. Also, ETH stakes account for 15% of the coins in circulation perIt is also possible that some holders took a more long-term investment approach by holding their assets in personal wallets. It is a means of storing value and avoiding short-term trading risks.

Also, the crypto market experienced a downturn in the latter half of 2022. The downturn may have led some holders to move their assets off exchanges and into personal wallets. had yet to regain the price zone it dropped back in May. As of this writing, it was trading at approximately $1,740 and had sustained losses for two consecutive days. However, ETH had maintained a support level of around $1,732 and $1,630, previously resistance levels.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum: Shanghai Upgrade approaches, here’s what node operators should knowEarnings from transaction fees on the network declined by 3.66% over the previous week. The Open Interest (OI) for ETH rose, complementing the increase in price. In preparation for the much-anticipated Shanghai hard fork which is scheduled to go live on 12 April, Ethereum [ETH] developers asked all network validators to upgrade their nodes. During […]
Read more »

Enabling DeFi for Bitcoin: An interview with Mintlayer co-founder Enrico RubboliMintlayer is a layer 2 protocol that allows users to build a decentralized finance ecosystem rooted in the established network of the Bitcoin blockchain. Mintlayer is the only DeFi platform that is directly interoperable with native Bitcoin. In an interview with co-founder Enrico Rubboli, we talked about the vision behind Mintlayer, its use cases, its recent token […]
Read more »

Ethereum [ETH] becomes traders’ current favorite because of this reasonEthereum traders issue large call options on ETH despite expected uncertainty as the Shanghai Upgrade inches closer. Whales begin to show interest, however, velocity and network growth start to decline. As the Shanghai Upgrade inches closer, expectations regarding ETH’s volatility have been on the rise. However, it has recently been reported that traders have started […]
Read more »

Solana [SOL] outshines Ethereum [ETH] on this crucial parameterSolana’s Nakamoto Coefficient stood at 31 as compared to Ethereum’s 1. Solana was well-distributed across geographies with no country controlling 33% of the active stake. The Solana [SOL] Foundation published its latest Validator Health Report wherein it disclosed vital stats like the number of validator nodes and their distribution across the network. According to the report, […]
Read more »

AAVE outperforms LDO as DeFi TVL reaches YTD high, more insideAave recorded the most asset deposits in its protocol. Though Lido underperformed, its TVL hit 2023 highs. The Total Value Locked of Aave [AAVE] gained as much as 8.69% in the week ended 25 March. The rise in unique smart contract deposits made the protocol the best-performing one as the overall TVL hit $5o.01 billion […]
Read more »

SUSHI holders may have cut exposure long before SEC summon- Here’s howLong-term holders of the token have significantly shredded their holdings. The SUSHI protocol has seen a decline in growth, thereby putting the network’s health at risk. Although associated with the DeFi movement, SushiSwap’s [SUSHI] recent escapades have reeked of adversity with the U.S. SEC knocking on its doors. However, the troubles of the project did […]
Read more »