According to data from #CryptoQuant more than 3 billion USD worth of ETH has been withdrawn from exchanges following the approval of the ether ETF. Currently, only 10.6% of the total ETH supply remains on exchanges, the lowest level in many years.
Michael Nadeau, an analyst at DeFi Report, stated that unlike Bitcoin miners who often need to sell BTC to cover costs, Ethereum validators do not need to do this, which helps reduce selling pressure on #ETH
