The balance of available Ether (ETH) across crypto exchanges dropped to a five-year low on May 26, bringing the total amount of Ether held on exchanges to 17.86 million. A drastic decline in the exchange supply of ETH like this has not been seen since April 2018.
According to Glassnode data, only 14.85% of the total Ether supply is currently held on centralized exchanges, compared with the 25–26% of supply held during the 2021 bull run.
The decline in Ether exchange balances. Source: GlassnodeETH withdrawal from crypto exchanges. Source: Nansen
