Ethereum holders might be elated to know this about exchange balance

crash sent shockwaves through the crypto world, causing many holders to question the safety of keeping their assets on exchanges.experienced a decrease in exchange balances in the months following the crash, this trend can be attributed to other factors beyond fear of exchange insecurity.Glassnode alertsAs of this writing, the exchange balance had reached a five-year low, hovering just above $18 million.

Currently, the netflow of ETH on exchanges remains negative, with outflow continuing to dominate. At the time of writing, the netflow had surpassed 11,000 ETH already, highlighting the ongoing trend of ETH holders moving their assets away from exchanges.One possible factor is the rise of decentralized finance platforms built on thenetwork. Many holders have moved their funds from centralized exchanges to DeFi protocols to earn higher yields.

The yields come through liquidity provision, staking, or other forms of participation in decentralized finance. Also, ETH stakes account for 15% of the coins in circulation perIt is also possible that some holders took a more long-term investment approach by holding their assets in personal wallets. It is a means of storing value and avoiding short-term trading risks.

Also, the crypto market experienced a downturn in the latter half of 2022. The downturn may have led some holders to move their assets off exchanges and into personal wallets. had yet to regain the price zone it dropped back in May. As of this writing, it was trading at approximately $1,740 and had sustained losses for two consecutive days. However, ETH had maintained a support level of around $1,732 and $1,630, previously resistance levels.

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