Ethereum shortage: ETH reserves on exchanges continue to fall after a 26% decline in 2021
The amount of Ether (ETH) on all cryptocurrency exchanges has dropped dramatically in the last 12 months.
Blockchain analytics firm CryptoQuant reported that trading platform reserves fell from 26.29 million ETH to 19.22 million ETH year-over-year (YoY), showing that traders’ preference to hold their tokens increased. .
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At least the price action of Ether in the same period indicates the same. Between August 25, 2020 and the time of publication of this analysis, the pair soared just over 730%, going from $ 407 to $ 3,190, indicating an erratic inverse correlation between Ethereum token prices and your reservations on all exchanges.
Read the full article on Cointelegraph
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