Ethereum Holdings on Exchanges Hit Multi-Year Lows Amid Bearish Market
Ethereum Holdings on Exchanges Hit Multi-Year Lows Amid Bearish Market
In a surprising turn of events, even as the price of Ethereum recently dipped below the crucial $4,000 mark, indicating intensified bearish pressure across the wider cryptocurrency market, on-chain data reveals a compelling counter-trend. A substantial amount of ETH is being withdrawn from centralized crypto exchanges, suggesting a growing sentiment among investors to move their assets off trading platforms. This ongoing withdrawal activity highlights a fundamental shift in investor behavior, moving towards self-custody and long-term holding strategies despite immediate market volatility. This development is particularly noteworthy as it underpins a potential strengthening of Ethereum's underlying market structure, even when price action suggests caution. Investors Embrace Self-Custody: The Ethereum Exodus Despite the recent downturn in its price, the on-chain dynamics of Ethereum are entering an intriguing new phase. Recent reports indicate that the aggregate balance of ETH held on …