BlockBeats News, March 24th, according to data tracked by CryptoRank and Santiment, the amount of Ethereum held in wallets associated with centralized exchanges (CEX) has dropped to the lowest point in 9 years, standing at only 8.97 million ETH, marking the lowest level since November 2015.
Continued token outflows from CEXs may lead to a reduction in token availability in the market, potentially triggering a price increase. CryptoRank stated, "Investors continue to move ETH to cold wallets, reducing available liquidity. A similar trend was observed with Bitcoin in January when exchange reserves hit a seven-year low, followed by a sharp price increase."
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