23.6% of all ether is stored on exchanges, which is three times higher than Bitcoin

23.6% of all ether is stored on exchanges, which is three times higher than Bitcoin

According to the analytical platform ViewBase, almost a quarter of all circulating ether (ETH) is placed on exchanges.

According to the information published on the website, 26,707,260 ETH out of 113.2 million of the total emission are currently stored on the trading floors, which is 23.6%. Moreover, more than 95% of these tokens are distributed among the 10 largest centralized crypto-exchanges.

For ether, this figure is almost three times higher than that of bitcoin, only 8.1% of which is stored on trading platforms. They also indicate a trend common for both cryptocurrencies towards a decrease in the share of storage on exchanges and the movement of digital assets to cold wallets.

According to the aggregator of crypto data Glassnode, since the beginning of the year the number of BTC on exchanges has decreased from 2.97 million to 2.6 million coins. In addition, on average, about 480 thousand new bitcoin addresses are created every day, which is 6 times more compared to 80 thousand for Ethereum.

Analysts say the declining share of storage and high network activity indicate an influx of new users investing in cryptocurrency and is a common driving force behind the rate. Recently, however, a significant increase in transaction fees has become a problem with Bitcoin and Ether.

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23.6% of all ether is stored on exchanges, which is three times higher than Bitcoin

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