Ethereum balances on exchanges are close to a minimum
The share of Ethereum from the total supply on the accounts of centralized platforms dropped to the lowest since July 2016 14.85%. Such data leads Glassnode.
During the bull market of 2021, the figure reached 25-26%.
The trend is observed against the backdrop of increasing interest in staking.
Since April 13, after the activation of the Shapella hard fork, the net inflow of ETH to the deposit contract has amounted to over 3 million coins. According to Dune Analyticsthe
share of staked Ethereum increased to 17.77%.
“The trend will continue given that deflationary forces are expected to push the price of Ethereum significantly higher. Before this update [Shapella] investors have refrained from staking due to fears that their funds will be locked up for an unacceptably long time,” Bitfinex analysts said in an interview with CoinDesk.
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