Ethereum Exchange Balances Reach 8-Year Low Prior to Spot ETF Debut

According to a recent report by Glassnode, Ethereum balances on exchanges have dropped to their lowest levels since 2016. This decline coincides with the impending launch of a Spot ETH ETF expected in July, despite a notable decrease in Ethereum’s price over the past three weeks, down by 9.81%.

The diminishing exchange balances indicate robust accumulation and investor confidence, highlighting resilience amid ongoing market volatility.

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