Ethereum’s Exchange Reserves Drop to Record Low Amidst Whale Activity

Ethereum has seen a significant decline in its exchange reserves, reaching a five-year low of 16.8 million ETH. This drop suggests less readily available Ethereum for trading on platforms like Coinbase and Binance. Analysts attribute this decrease to the actions of large investors known as ‘whales,’ who are actively pulling ETH off exchanges. While the price of Ethereum has seen a modest increase, experts highlight the potential impact of this reduced liquidity on the market.