Investors withdrew more than 203,000 ETH from exchanges in a week

by in Cryptocurrency News


The price of Ether (ETH) has increased by almost 3.5% over the past 24 hours to $3342.

According to the ViewBase platform, during the week investors withdrew 203,147 ETH from centralized crypto exchanges for a total amount of up to $682.997 million.

The exchange balance of ETH in mid-January decreased to 11.6% of the total cryptocurrency market supply. Analysts are positive about such data, as the reduction in the supply of the asset eases the pressure on it from sellers. This should have a positive impact on the cost of Ethereum against the backdrop of increasing demand.

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The CryptoRank team found out that the lion’s share of the altcoin is currently listed on the Coinbase, Binance, and Gemini platforms – 6.34 million, 2.13 million, and 1.79 million coins, respectively. As a percentage, 46.16% and 15.57% of the ETH exchange balance are stored on Coinbase and Binance.

The researchers remind that the supply of ether is 119 million ETH, of which 13.8 million tokens are placed on exchange wallets.

Ethereum addresses with the non-zero balance set a new record this week, surpassing 72.665 million, according to Glassnode.