For the first time in its history of more than a decade, Ethereum has seen the portion of its supply maintained on centralized exchanges dip under 4.9%. Bitcoin isn’t too far behind, with only 7.1% of its total supply now residing on exchanges, the lowest it’s been since November 2018. These numbers were recently reported by the analytics firm Glassnode, and while they don’t necessarily forecast future price movements, they do suggest something about the kind of market we’re in. Unprecedented figures like these are strong indicators of rising long-term conviction among holders of the two largest cryptocurrencies. When you
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