CoinScoopEthereum Exchange Supply Hits Record Low as Staking and DeFi Demand Grows
The amount of ETH held on exchanges has dropped to a record low of 3.49% of the total supply, with an additional 1.16% moving off platforms since June 1. According to Santiment, this trend is driven by increased participation in staking and DeFi, where approximately 35% of ETH is staked and $53 billion is locked. Despite recent price volatility, network activity remains robust, with rising priority fees indicating strong competition for block space.
Summaries are written by AI from the original article. Not investment advice.