Nansen, the analytics platform that tracks non-price movements in blockchain networks, shared that Ethereums located on centralized cryptocurrency exchanges have long been outsourced.
According to on-chain data, the amount of ETH in exchange wallets has dropped from 33 million to 26.5 million since December 2022.
When we calculate the material value for Ethereum tokens that exit from central platforms, we come across a sensational figure of 11 billion dollars. Crypto experts explain the reason for this situation with the different return opportunities available to ETH holders.
Opportunities for ETH Traders!
In particular, individuals and institutions that make medium and long-term Ethereum investments use the crypto asset for staking activity instead of keeping it on exchanges. Investors who lend their ETH to staking platforms earn passive income without incurring significant additional costs.
With the Shapella update, the ETH staked has been released. After the update, this did not happen as the general market expected a large selling pressure.
According to Glassnode data, Lido Finance is the leader in the stake pool distribution with 33%. Crypto exchanges Coinbase, Kraken and Binance have shares of 11.5%, 7.1% and 5.7%, respectively.