According to Glassnode data, the amount of ETH held on exchanges is currently at its lowest level since 2018.

CryptoQuant indicators show that the Ethereum reserves of exchanges have decreased by 2.5 million ETH to 14.9 million ETH since August 7. The decline in the total number of tokens held by exchanges indicates that traders are moving tokens to cold wallets, which means that investors are more inclined to hold digital assets and wait for the improvement of the macro environment or the emergence of positive catalysts.