Ethereum Exchange Balances Plummet by 18% Since June

Ethereum's supply on major centralized exchanges has seen a significant drop since early June. According to Santiment, exchange-held ETH decreased from approximately 7.69 million tokens to 6.28 million, representing an 18% reduction.

This decline marks the lowest exchange balance recorded during the measured period and suggests that investors are less inclined to sell in the near term. Tokens transferred to self-custody wallets are typically held for longer periods, reducing the available supply on trading platforms and easing selling pressure.

While exchange balances have risen slightly by 0.25% for Bitcoin over the same timeframe, Ethereum's move toward long-term holding is more pronounced. This divergence underscores unique shifts in investor behavior between the two largest cryptocurrencies.