CryptoQuant data shows the remaining 8.1 million Ethereum (ETH) is still stored in centralized exchange deposits, indicating the second largest currency after Bitcoin (BTC) has declined over the past two days.
According to analyst Alex Saunders, Ether dropped 10% on January 14 from 11 million to 10 million in just 24 hours.
This decrease in total assets is a result of ETH's withdrawal from the exchange platform in a short time.
Based on the current volume, the Sauders could not rule out the possibility that the exchange would run out of ETH within 48 hours after the addition of a 20% depreciation rate.
Other data received also provide evidence showing that the balance of ETH in exchanges has declined 42.5% since mid-May 2020. According to Glassnode, this is the first time the amount of Ether has declined to its lowest level since July 2018.
At the time of writing, only the remaining 7% of Ether is stored on the exchange.
Decreasing the amount of ETH in exchange will not lead to a spike in prices to new highs, just as Satoshi Nakamoto's currency volume did when it began to depreciate.
For now, Ethereum is showing bullish signals with a record trading price record, $ 1,227, including imbalance of bid-to-ask volume approaching 9
