Ethereum Supply on Exchanges Drops as Price Climbs
Over the past month, more than 1 million ETH have been withdrawn from centralized exchanges, which accounts for approximately 5.5% of the total ETH held on these platforms. This trend suggests that users are increasingly choosing to accumulate Ethereum rather than trade it. The recent Pectra upgrade, which went live on May 7, may further support this behavior and, in turn, add upward pressure to Ethereum’s price.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Ethereum Supply on Exchanges Drops as Price Climbs
Over the past month, more than 1 million ETH have been withdrawn from centralized exchanges, which accounts for approximately 5.5% of the total ETH held on these platforms. This trend suggests that users are increasingly choosing to accumulate Ethereum rather than trade it. The recent Pectra upgrade, which went live on May 7, may further support this behavior and, in turn, add upward pressure to Ethereum’s price.