{"id":108646,"date":"2021-01-17T12:44:32","date_gmt":"2021-01-17T12:44:32","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108646"},"modified":"2021-01-17T12:44:32","modified_gmt":"2021-01-17T12:44:32","slug":"ethereum-eth-stored-on-crypto-exchanges-drops-to-22-of-total-supply","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-stored-on-crypto-exchanges-drops-to-22-of-total-supply\/","title":{"rendered":"Ethereum (ETH) Stored On Crypto Exchanges Drops to 22% of Total Supply"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>The amount of Ethereum stored on crypto exchanges has dropped to 22% of the total supply<\/strong><\/li>\n<li><strong>Ethereum in exchanges was at 26.33% of the total supply five months ago<\/strong><\/li>\n<li><strong>Current levels were last seen in November of 2018 when ETH dropped to $80 and then rallied to $366<\/strong><\/li>\n<li><strong>The drop in the amount of Ethereum on crypto exchanges is a bullish sign for ETH<\/strong><\/li>\n<\/ul>\n<p>The amount of Ethereum sitting on crypto exchanges has been known to be declining for quite some time. Initially, investors were moving their Ethereum away from crypto exchanges and into DeFi protocols to participate in yield farming.<\/p>\n<p>Currently, the same Ethereum investors are moving their ETH out of crypto exchanges and onto offline wallets as the digital asset hints of a pending bullish phase that could see it set a new all-time high.<\/p>\n<p>This fact was identified by the team at Santiment via the following statement and accompanying chart.<\/p>\n<blockquote>\n<p><span>The ratio of <\/span><span>#Ethereum<\/span><span> tokens sitting on exchanges continues to decrease &amp; move to offline holder wallets. At just 22.06% of tokens on exchanges compared to 26.33% five months ago, this continues to be one of the most promising signs for <\/span><span>$ETH<\/span><span> bulls.<\/span><\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/01\/ETH-on-Exchanges-Jan-17th-1024x593.jpg\"><\/p>\n<h2>ETH Movement Away from Exchange Similar to Nov. 2018 Before the 2019 Bull Season<\/h2>\n<p>From the chart, it can be observed that the last time there was an exodus of this magnitude of Ethereum away from exchanges, was in November 2018. The latter time period was when Bitcoin dipped to $3,150 and Ethereum fell to as low as $80. Both digital assets would go on to peak in June 2019 at a value of $14k and $366 respectively.<\/p>\n<p>With the CME Ethereum futures contracts set to launch on February 8th this year, ETH investors could very well be prepping for a similar bullish climb to a new all-time high.<\/p>\n<p>To note is that Bitcoin is currently in a bull market brought about by last year&#8217;s halving event and the influx of institutional investors who want to hedge against inflation. Since Ethereum&#8217;s fate is tied to that of Bitcoin, a BTC bull cycle will provide an adequate environment needed for ETH to thrive in the weeks and months to follow.<\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-eth-stored-on-crypto-exchanges-drops-to-22-of-total-supply\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: The amount of Ethereum stored<\/p>\n","protected":false},"author":3,"featured_media":108645,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum (ETH) Stored On Crypto Exchanges Drops to 22% of Total Supply - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-stored-on-crypto-exchanges-drops-to-22-of-total-supply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum (ETH) Stored On Crypto Exchanges Drops to 22% of Total Supply - 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