Ethereum Exchange Supply Plummets, Signaling Bullish Sentiment

Ethereum balances on centralized exchanges are experiencing a significant decline as investors increasingly shift their holdings to self-custody wallets and staking platforms. This trend suggests a potentially bullish development for the cryptocurrency, indicating confidence in Ethereum’s long-term potential. 📈 The rapid outflow of ETH from exchanges reveals a growing shift towards decentralized control. Ethereum’s transition to Proof-of-Stake is playing a major role in this move as more investors are locking their ETH to earn staking rewards and participate in DeFi applications.