Investors Withdraw Ethereum from Exchanges

Ethereum withdrawals from exchanges are catching attention. Data shows that over 1 million ETH were moved from exchanges to wallets over the past 30 days in June. Approximately3.8 billion dollars worth of withdrawals represent a noticeable 6.4% increase compared to May. There was also a significant decrease in the amount of Ethereum on exchanges.CryptoQuant provided another data point showing the magnitude of the change. As of June, the amount of ETH in exchange reserves was over 17 million.

After 30 days, there was a decrease of 1 million, bringing the total to 16 million ETH. More importantly, as of the time of writing, the reserve was around 16.6 million ETH. Data from Dune Analytics also showed that over 33.2 million ETH are currently staked. More importantly, the amount of staked ETH represents nearly 28% of the total ETH supply.

Considering all these situations, it is seen that investors continue to trust in Ethereum’s future rather than making panic sales.

As of the time of writing, Ethereum continues to find buyers at $3,422 after a 0.57% decrease in the last 24 hours.

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