Santiment has revealed that the exchange balance of ether (ETH) has shrunk to 8.51% of the cryptocurrency’s total supply. Its outflow has been observed over the past few months.
Last summer, investors preferred to store altcoin at offline addresses. In the middle of last week, traders withdrew 110,000 ETH worth $181 million from trading platforms in just one day.
The volume of cryptocurrency in exchange wallets is now at its lowest level since May 2018. However, the withdrawal of ether to cold storage has not yet had a positive impact on its value.