📉 Ethereum volume on exchanges fell to its lowest since 2015: 8.97 million ETH

🔄 The popularity of DeFi and steaking has led to a significant drop in Ethereum supply on exchanges. According to Santiment, ETH volume on exchanges has dropped to 8.97 million, the lowest since November 2015. Over the past 7 weeks, available supply has decreased by 16.4%. The decline in volume on exchanges could signal an increase in holders' confidence in Ethereum's long-term prospects, potentially strengthening the asset's position in the market.

💡 Less volume of ETH on exchanges reduces selling pressure, which could support price appreciation. The Santiment chart confirms a steady supply downtrend from 2019, reflecting a shift in investor behavior in favor of holding assets off exchanges. $ETH @Ethereum