Exchange ETH balances fall to lowest level since 2016

The balance of ETH on major exchanges has dropped to its lowest level since 2016, Cointelegraph reported. According to data from Glassnode, the ETH balance on exchanges stood at 14.8 million as of Sept. 25. The supply ratio of ETH on exchanges is also at 0.14, its lowest point since July 2016. This trend generally indicates that investors are holding their ETH in cold wallets or seeking higher yields through staking and DeFi protocols.