The volume of Ether coins in the accounts of centralized crypto exchanges has fallen to June 2019 levels, analytics firm Glassnode has reported.
According to the company analysts, decentralized exchanges currently hold around 13.3 million Ethers (around $53 billion) in their accounts, which represents a 11.5% of the cryptocurrency's total supply. The volume of the market's second-largest crypto by market capitalization on centralized platforms has fallen by 30% over the past nine months.
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Glassnode claims through its report that long-term investors have replaced BTC with ETH. Analysts have concluded Bitcoin holders have started to return to exchanges the coins they withdrew several years ago.