Almost 24% of All ETH is Owned by Exchanges
Main page News, Ethereum, Cryptocurrency Exchanges

According to data provided by analysis platform ViewBase, around 24% of all ethers in circulation belong to crypto trading platforms.

In particular, 26,768,260 ETHs are in the hands of exchanges, which is equivalent to 23.6% ($10.3B) of the total supply of the crypto. Nearly 26 million of these coins are in 10 centralized platforms, led by Coinbase with 8,521,807 ETHs or 7.5% of the total supply of the crypto.

It is worth mentioning this figure is much higher than the number of Bitcoins owned by exchanges, as in the case of the reference crypto the percentage drops to 8.1%.

In relation to this, popular crypto analyst Willy Woo said earlier this month that when the number of coins stored in exchanges decreases, that will be sign that "new buyers are coming in to scoop the coins off the markets and moving them into cold storage." According to him, the relatively low participation of BTC in the exchanges is a bullish signal.

Interestingly, Glassnode's data does not match that provided by ViewBase. According to Glassnode, there are less than 16.6 million ETHs (14.7%) and almost 2.6 million BTCs (14%) in exchanges.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error