ETH spot holdings in CEX drop to a nine-year low, with only 8.97 million remaining

Odaily Planet Daily News: The current amount of ETH held by centralized exchanges has dropped to 8.97 million, hitting a nine-year low since November 2015. CryptoRank points out that investors continue to transfer ETH into cold wallets, reducing market circulation and supply, which may drive up prices. Similar trends have also appeared in BTC before - in mid January, BTC rose from around $90000 to over $109000 after its exchange reserves fell to a seven-year low.