LATEST: Ethereum holders have pulled 1.4M ETH off exchanges since June, dropping exchange balances roughly 18%, while Bitcoin balances edged up about 0.25%, per Santiment.

What happened

Since June, Ethereum holders have removed 1.4 million ETH from exchanges, reducing exchange balances by about 18%. During the same period, Bitcoin balances on exchanges increased slightly by about 0.25%, according to data from Santiment.

Confirmed

Global impact / market context

Moving Ethereum off exchanges often means holders plan to keep it long-term rather than sell soon. This can reduce available supply, potentially supporting higher prices. Bitcoin's small increase suggests holders are slightly more willing to trade or sell.

Analyst inference

Exchange balances are watched as a signal of selling pressure. Lower Ethereum balances may indicate less immediate selling, while higher Bitcoin balances could mean more potential selling. These trends can influence investor confidence and price movements for both cryptocurrencies.

Analyst inference

What to watch

1. Monitor whether Ethereum exchange balances continue to decline further, as this would confirm the trend of holders moving assets off exchanges for long-term storage. Confirmed
2. Watch for any announcements from major exchanges about changes in Ethereum withdrawal fees or processing times, which could affect how easily holders can move their coins. Proposed
3. Observe if Bitcoin exchange balances start rising more sharply, which might signal increased selling pressure and potentially lead to price declines for Bitcoin. Analyst inference

Affected assets

• BTC — Bitcoin
• ETH — Ethereum

Evidence

• x.com