ETH Holders Flee Exchanges Amid Price Surge

Ethereum holders have withdrawn 1.4 million coins from exchanges since early June as the price of ETH nears $2,550.

According to Santiment data, exchange-held Ethereum dropped from about 7.69 million coins on June 3 to roughly 6.28 million by August 27, marking a decline of nearly 18% over twelve weeks.

In contrast, Bitcoin balances on exchanges rose about 0.25% over the same period and now sit near recent highs.

The ETH outflow did not slow as price gained ground; another 275,000 coins left exchanges after August 19 alone, pushing balances to the lowest point of the twelve-week period.