ETH Holders Flee Exchanges as Price Hits $2,528

Ethereum holders have been withdrawing assets from centralized exchanges at an accelerated pace over the past quarter, according to data from analytics firm Santiment. Between June 3 and August 27, a total of 1.4 million ETH was withdrawn, reducing the available inventory on exchanges by 18%.

This contraction in liquid supply could limit immediate selling pressure if spot demand maintains its current pace, analysts suggest. In contrast to Bitcoin, which saw a slight increase in balances on exchanges during the same period, Ethereum participants are channeling their funds directly into consensus protocols and decentralized finance.

The price of ETH climbed 27% since August 16, reaching $2,528 per unit, but platforms still recorded a net outflow of an additional 275,000 coins starting August 19. This indicates a low willingness to sell at current price levels.