On March 24, according to data tracked by CryptoRank and Santiment, the amount of Ethereum held in wallets associated with centralized exchanges (CEX) has fallen to its lowest point in 9 years, at only 8.97 million coins, marking the lowest record since November 2015.

Ongoing withdrawals of tokens from CEX could lead to a decrease in the availability of tokens in the market, potentially triggering a price increase. CryptoRank stated, "Investors continue to transfer ETH to cold wallets, reducing available liquidity. Bitcoin also experienced a similar trend in January, when exchange reserves hit a seven-year low, followed by a sharp price increase."

Is a big move coming?