Ethereum Balance on Exchanges Drops While ETH Deposits are Sent to DeFi

Earlier today, September 21st, the analytics company sent out a tweet with a chart that shows the amount of ETH held by users on various crypto exchanges has witnessed a rather great decrease and managed to hit a nine-month low. Moreover, the amount of ETH wallets in which users kept 1,000 Ethereum or more has encountered a significant two-year decrease, as per another tweet shared by Glassnode.

In spite of the negative reports already mentioned, Glassnode also posted some good news about Ethereum: the number of non-zero ETH wallets has increased to an unprecedented high of 47,185,555. In addition, the number of ETH wired to various crypto exchanges has grown throughout the past 24 hours, and at the moment, this metric shows a 39 percent increase – 864.792.

Timeline of Ethereum