Ethereum Exchange Supply Hits Lowest In 5.5 Years

Market data reveals that users have moved their ETH off the exchange with currently only 96% supply stored on centralized exchange wallets.
Ethereum Exchange Supply Hits Lowest In 5.5 Years
Ethereum Exchange Supply Hits Lowest In 5.5 Years

The supply of Ether (ETH) is currently outside of centralized exchanges (CEXs), at its lowest level since May 2018, according to the most recent data.

CryptoQuant data shows that only 14.5 million ETH, or about $23.7 billion, are kept in wallets across all centralized exchanges. It amounts to 115.9 million ETH overall, held in decentralized custody.

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Ethereum Reserve on Centralized Exchanges – CryptoQuant

The current total supply of Ethereum‘s native currency is 120 million, and since the Merge upgrade in September 2022, there has been a significant decline in supply inflation.

According to a report by well-known cryptocurrency analyst WhaleChart, ETH on centralized exchanges has dropped to its lowest level since May 2018. Additionally, the expert asserts that on October 4, more than 110,000 ETH were transferred from exchanges, indicating lessened selling pressure during the bearish market phase.

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