3 reasons why Ethereum exchange reserves are falling to new lows

3 reasons why Ethereum exchange reserves are falling to new lows


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

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To determine if this is a bullish or bearish development for the top altcoin, let’s take a closer look at some of the factors playing a role in the increased demand for Ether, including the Eth2.0 staking contract, increased activity in decentralized finance and traders’ possible excitement ahead of the implementation of Ethereum Improvement Proposal (EIP) 1559.

Eth2 staking surpasses 6 million Ether

One source for the increased demand for Ether is the Eth2 staking contract which surpassed the 6 million Ether mark on June 30.

There is now 6 million ETH in the eth2 deposit contract.

— Anthony Sassano Ξ (@sassal0x) July 1, 2021

Data from

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