[Analyst Says Centralized Exchange ETH Holdings Drop to Historic Low of 8.8%]
Analyst Milk Road pointed out that, according to Glassnode data, the amount of ETH held in centralized cryptocurrency exchanges has dropped to 8.8%, marking the lowest level since the network launched in 2015. Since early July, the amount of ETH on exchanges has decreased by 43%, while purchases by Digital Asset Treasury (DAT) have significantly increased during the same period. In comparison, Bitcoin holdings on exchanges stand at 14.7%. Milk Road believes that ETH is being transferred to staking, Layer 2 network activities, DAT, and other areas, and the tight supply may impact its price.