Ethereum Exchange Reserves Plummet as ETH Flows Shift Across Ecosystem

Recent data reveals a sharp decline in Ethereum’s exchange reserves, falling to 18.7M on centralized platforms. This decrease suggests less selling pressure but further analysis reveals the true significance lies in where ETH is flowing across the ecosystem. While reserves are dropping, most ETH has shifted towards staking contracts, L2 networks, and smart contracts. This shift significantly impacts the narrative surrounding Ethereum’s price stability at $2.63K.