TechFlow news, according to Cointelegraph, since the U.S. approved spot Ethereum exchange-traded funds (ETFs) on May 23, over $3 billion worth of ETH has been withdrawn from centralized cryptocurrency exchanges, signaling a potential supply crunch. Currently, only 10.6% of the total ETH supply remains in circulation on centralized crypto exchanges—the lowest level in years.
Data from CryptoQuant shows that the amount of ETH held on exchanges has decreased by approximately 797,000, equivalent to $3.02 billion.
A decline in exchange reserves means fewer coins are available for sale, as investors move their holdings into custody for purposes other than immediate selling.
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