As of 2018, this has not happened on Ethereum.

TL; DR

Ether (ETH) has hit its lowest level on the exchange since May 2018. 115.88M ETH now out of central platforms. 110,000 ETH crossed exchanges on October 4, reducing selling pressure. Bitcoin (BTC) reaches 5-year low on exchanges; Top owners control 66% of the circulation supply.

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The lowest figure for more than five years

According to blockchain analytics platform Santiment, the amount of Ether (ETH) currently held on cryptocurrency exchanges has dropped to 10.66 million coins. The last time the figure was this low was in May 2018. Conversely, 115.88M ETH is available outside of central platforms, an all-time high.

Sentiment also estimated that approximately 110,000 ETH (worth over $180 million) left the exchange on October 4, marking the largest outflow day since August 21.

😮 #Ethereum saw ~$110K ETH ($181M USD) exit the market on Wednesday, the biggest day of outflows since August 21st. Ethereum non-currency volume now sits at an #AllTimeHigh of 115.88M $ETH, the lowest the currency supply has been in ~5.5 years. pic.twitter.com/u54pp6LZij

— Santiment (@santimentfeed) October 5, 2023

Such moves are seen as a huge drag on asset valuations as they reduce selling pressure and expose investors to long-term losses.

The supply of BTC will also drop

Recently as CryptoPotato reported, the situation with the main cryptocurrency is very similar. Bitcoin (BTC) supply on cryptocurrency exchanges fell to 5.73%, or a 5-year low.

On another note, the sharks and whales were very active; Accumulation In the past few months, the property has increased in temperature. According to the most recent data, such investors control more than 66% of the BTC distribution supply.

The top 1% of Bitcoin addresses are very privileged to have About 19.3 million coins (of 19.5 million ever minted). For those who want to see who the six BTC billionaires are, you can watch our video below: