{"id":418486,"date":"2022-03-19T15:29:43","date_gmt":"2022-03-19T12:29:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\/"},"modified":"2022-03-19T15:29:43","modified_gmt":"2022-03-19T12:29:43","slug":"ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\/","title":{"rendered":"# Ethereum balance on crypto exchanges falls to lowest levels since 2018"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35fc20101e0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35fc20101e0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\/#%E2%80%9D_Ethereum_balance_on_crypto_exchanges_falls_to_lowest_levels_since_2018_%E2%80%9C\" >&#8221; Ethereum balance on crypto exchanges falls to lowest levels since 2018 &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\/#Biggest_weekly_ETH_outflow_since_October_2021\" >Biggest weekly ETH outflow since October 2021<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\/#Ethereum_supply_crunch_underway\" >Ethereum supply crunch underway<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\/#ETH_price_rebound_continues\" >ETH price rebound continues<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_balance_on_crypto_exchanges_falls_to_lowest_levels_since_2018_%E2%80%9C\"><\/span>&#8221; Ethereum balance on crypto exchanges falls to lowest levels since 2018 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>The amount of Ethereum&#8217;s native token Ether (ETH) kept with crypto exchanges has fallen to its lowest levels since September 2018, signaling traders&#8217; intention to hold the tokens in hopes of a price rally in 2022.<\/p>\n<p>Notably, nearly 550,000 ETH tokens \u2014 worth around $1.61 billion \u2014 have left centralized trading platforms year-to-date, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&amp;category=Distribution&amp;m=distribution.BalanceExchanges&amp;s=1641170677&amp;u=1647648000&amp;zoom=\">data provided by Glassnode<\/a>. The massive outflow has reduced the exchanges&#8217; net Ether balance to 21.72 million ETH, down from its record high of 31.68 million ETH in June 2020.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/296a021d-3596-4eeb-aa95-6dadaadbf6f7.png\"><figcaption style=\"text-align: center;\"><em>Ethereum balance on all exchanges as of March 18, 2022. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Biggest_weekly_ETH_outflow_since_October_2021\"><\/span>Biggest weekly ETH outflow since October 2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Interestingly, over 30% of all Ether&#8217;s withdrawals from exchanges witnessed in 2022 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared earlier this week, data from IntoTheBlock <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intotheblock\/status\/1504838298858045459?s=20&amp;t=SOVA3xo9jRr4CRMytUwOtA\">shows<\/a>. In detail, over 180,000 ETH left crypto trading platforms on March 15, bringing the weekly outflow&#8217;s worth to a little over $500 million as of March 18.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/8db1149e-c530-48ef-9756-44ae3800b1ce.jpeg\"><figcaption style=\"text-align: center;\"><em>Ethereum net exchange flows. Source: IntoTheBlock<\/em><\/figcaption><\/figure>\n<p>Chainalysis <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/markets.chainalysis.com\/?range=180&amp;asset=ETH#trading-balances\">data showed similar readings<\/a>, revealing that Ether tokens could have left exchanges this week at an average of about 120,000 units per day, a bullish signal. Excerpts:<\/p>\n<blockquote><p>&#8220;Assets held on exchanges increase if more market participants want to sell than to buy and if buyers choose to store their assets on exchanges.&#8221;<\/p><\/blockquote>\n<p>IntoTheBlock provided a similar upside outlook while citing a fractal from October 2021 that saw the Ether&#8217;s price rising by 15% ten days after the Ethereum network detected massive ETH withdrawals from centralized crypto exchanges.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_supply_crunch_underway\"><\/span>Ethereum supply crunch underway<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The increase in Ether withdrawals from exchanges this week coincided with about 190,000 ETH moving into Lido&#8217;s &#8220;stETH liquid staking&#8221; pools, IntoTheBlock noted.<\/p>\n<p>To recap, Lido is a non-custodial staking service that enables users to overcome challenges associated with staking on the Ethereum 2.0 Beacon Chain, including the requirement of staking a minimum of 32 ETH or its multiples. Furthermore, Lido proposes to solve the capital efficiency problem by issuing stETH, the tokenized version of staked ETH.<\/p>\n<p>The last 30 days showed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ultrasoundmoney\/status\/1504463069329690624\">Ether holders adding over 1 million ETH<\/a> into the Ethereum 2.0 contract. And as the protocol prepares to switch completely to proof-of-stake in summer \u2014 in the wake of its &#8220;Merge&#8221; earlier this week\u00a0on the Kiln testnet \u2014 the probability of more Ether tokens going out of active supply has increased.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Lol. No one told anon that there&#8217;s going to be a liquidity squeeze in newly minted Ether in a few months. No newly minted Ether will enter circulation between the Merge (Juneish) and Shanghai (Decemberish). I&#8217;d text them but I don&#8217;t even have their number. You got it? Poor anon.<\/p>\n<p>\u2014 superphiz.eth  (@superphiz) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/superphiz\/status\/1504205069440499714?ref_src=twsrc%5Etfw\">March 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETH_price_rebound_continues\"><\/span>ETH price rebound continues<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bullishness surrounding Ethereum&#8217;s switch to proof-of-stake has prompted Ether to enter a rebound mode this week.\u00a0<\/p>\n<p><strong><em>Related:\u00a0Vitalik Buterin talks crypto\u2019s perils in Time Magazine interview<\/em><\/strong><\/p>\n<p>In detail, ETH&#8217;s price rallied by more than 17% week-to-date to nearly $3,000. Interestingly, the upside retracement originated at a technical level \u2014 rising trendline support with a recent history of limiting Ether&#8217;s bearish outlooks, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/5c24b555-7abc-49c6-a784-6c4d82d7881e.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Nonetheless, as Cointelegraph covered earlier, Ether could pare its gains owing to another technical level, this time a falling trendline resistance that has also been instrumental in capping its upside attempts since January 2022.<\/p>\n<p>Together, these trendlines appear to have formed a continuation pattern called a symmetrical triangle, indicating that Ether will most likely go in the direction of its previous trend, i.e., down. For now, ETH could fall back toward the triangle&#8217;s support trendline on a pullback from its resistance one.\u00a0\u00a0<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-balance-on-crypto-exchanges-falls-to-lowest-levels-since-2018\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum balance on crypto exchanges falls to lowest levels since 2018 &#8220; The amount of Ethereum&#8217;s native token Ether (ETH) kept with crypto exchanges has fallen to its lowest levels since September 2018, signaling traders&#8217; intention to hold the tokens in hopes of a price rally in 2022. Notably, nearly 550,000 ETH tokens \u2014&#8230;<\/p>\n","protected":false},"author":1,"featured_media":418487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvY2JiYjBhNGQtNTRiYS00MDEwLThhNDQtZDliOWVlYjgzOWU1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[88119,79806,81262,82402,74891,74938,74939,74876,78261,73785],"class_list":["post-418486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin-watch","tag-analysis","tag-cryptomarket","tag-ether-price","tag-ethereum","tag-ethereum-price","tag-market-analysis","tag-proof-of-stake","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/418486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=418486"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/418486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/418487"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=418486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=418486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=418486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}