ETH on exchanges declines despite Ethereum falling to 6-week lows

Over the past few days, ETH has lost over $200.

ETH is now sitting at its lowest level since public trading began almost a decade ago on crypto exchanges.

Despite that, Bitcoin’s price has lowered to a 6-week low, a new low for the second-largest cryptocurrency.

  • In late March, CryptoPotato reported that only 10.31% of Ethereum was held on exchanges.
  • The percentage of ETH investors withdrawing from trading platforms has further declined to 10.1%, according to Sentiment.
  • The analytics tool reports that this is the lowest figure seen since the asset went public in 2015.
  • This data appears to be optimistic for the asset at first glance. This is because there should be less selling pressure because there are fewer coins on trading platforms.
  • However, this has not been the case in recent days. ETH briefly reached $2,000, but the subsequent rejection sent it plummeting.
  • Following the CPI announcement on Wednesday, it surged back to $1,900. However, ETH has dropped by more than $200 since then, reaching a 6-week low of $1,740 (on Bitstamp) earlier today.

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