3 reasons why Ethereum exchange reserves are falling to new lows

Cointelegraph

Published Jul 08, 2021 05:25PM ET

Updated Jul 08, 2021 10:20PM ET

Over the past week, astute crypto market analysts noticed some interesting developments related to the supply of Ether (ETH) as the network's August 4 London hard fork approaches.

Recent data from CryptoQuant, an on-chain analytics firm, indicates that the amount of Ether held in cryptocurrency exchanges' reserves has hit new daily lows since the start of July.

Ethereum all exchange reserves. Source: CryptoQuant
Ethereum all exchanges netflow. Source: CryptoQuant
Total value locked in all of DeFi. Source: Defi Llama
ETH/BTC 4-hour chart. Source: TradingView

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