According to PANews, data from Cryptoquant.com reveals that since July 11, 2024, a total of 99,308 bitcoins, valued at $5.96 billion, have been withdrawn from centralized exchanges (CEX). This has brought the bitcoin reserves on CEX to their lowest level since November 19, 2018. As of August 11, CEX holds 2,679,880 bitcoins, worth approximately $161 billion based on the current bitcoin price. Additionally, Ethereum reserves have also decreased to their lowest levels in years. CEX currently holds 16.8 million Ethereum, a significant drop from the all-time high of 35.44 million Ethereum recorded on June 4, 2020, marking a decrease of 18.64 million Ethereum.

The media outlet commented that the continuous decline in BTC and ETH balances on CEX indicates a growing preference among cryptocurrency investors for self-custody solutions. This trend could potentially have a long-term positive impact on the price growth of these tokens.