The post Ethereum Exchange Balances Hit 8-Year Low Ahead of Spot ETF Launch appeared first on Coinpedia Fintech News
Ethereum balances on exchanges have plunged to their lowest levels since 2016, as shown in a recent Glassnode report. This drop, ahead of the anticipated Spot ETH ETF launch in July, comes amidst a significant price decline.
Over the past three weeks, Ethereum’s price has fallen by 9.81%. Despite this, the decreasing exchange balances suggest strong accumulation and investor confidence, even as market volatility remains high.