Exchange Reserves for Bitcoin and Ethereum Hit Record Lows

A significant shift in cryptocurrency exchange reserves is being observed, as data from Santiment reveals that the supply of both Bitcoin (BTC) and Ethereum (ETH) has hit historic lows. According to Odaily, on-chain data platform Santiment, the proportion of Ethereum on exchanges is currently at a 10-year low of 4.9%, while Bitcoin’s reserve on exchanges stands at a historical low of 7.1%. This decline is noteworthy, as over the past five years, BTC has seen its exchange reserves decrease by 1.7 million coins, while ETH has experienced a decline of 15.3 million coins. This data suggests a significant movement toward less centralized and more decentralized storage for these popular cryptocurrencies.