Ethereum Exchange Balances Plummet Amid Price Surge

Recent price gains for both Bitcoin and Ethereum have brought fresh movement to the market. However, data from Santiment highlights a contrasting trend in exchange balances between the two largest cryptocurrencies.

Ethereum exchange balances fell by approximately 1.4 million coins since June, decreasing from about 7.69 million on June 3 to 6.28 million on August 27. This outflow continued even as Ethereum's price climbed, with an additional 275,000 coins withdrawn after August 19.

In contrast, Bitcoin exchange balances increased by around 0.25% over the same period and remained near the upper end of their recent range. Its price rose by 26%, which is significantly lower than Ethereum's 30% gain since August 16.

Crypto analyst Credible Crypto believes Ethereum could reach $20,000 in the next few years based on its five-year trading range and weaker performance against Bitcoin. He also notes that institutional demand has reached its strongest level since October 2025 for US-based spot Bitcoin and Ethereum ETFs, with nine consecutive days of inflows.