Huoxing Finance reports that, according to Santiment Intelligence, since June 3, the total ETH balance on exchanges has decreased from approximately 7.69 million to about 6.28 million, a reduction of roughly 1.41 million ETH, or 18%. Since August 19, an additional 275,000 ETH have been withdrawn from exchanges, bringing the current balance to the lowest level in this reporting period. During the same period, BTC exchange balances increased by approximately 0.25% and are now near the upper end of their recent range. Santiment noted that the decline in ETH exchange balances has not halted despite the price rise; since August 16, while ETH’s price has increased by about 27%, significant amounts of ETH continue to be withdrawn from exchanges.
ETH exchange balances have dropped by 140K since June, while BTC balances have risen.
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Summary
Santiment’s ETH price data shows exchange balances decreased by 140,000 ETH since June 3, falling to 6.28 million as of August 19. Exchange flows indicate an additional 275,000 ETH has exited exchanges, reaching the lowest level in the tracking period. BTC balances rose 0.25%, nearing recent highs. ETH’s price has increased 27% since August 16, yet outflows have not slowed.
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