@BOMBERuss 21 March 2022 more from that month

The number of #Ethereum (ETH) coins on crypto exchanges has fallen to its lowest since September 2018. In the absence of serious growth in the crypto market, many investors are actively withdrawing #ETH from trading platforms, hoping for continued growth of the coin in 2022 and beyond. At the same time, since the beginning of this year, more than 550 thousand ETH or about 1.61 billion dollars have been withdrawn from the exchanges. We tell you about what is happening in this blockchain in more detail. Note that the withdrawal of ethers from #cryptocurrency exchanges reduces the number of coins available for trading, which to a certain extent creates a shortage of coins. However, this is not the only way to reduce the available cryptocurrency. The massive outflow reduced the total balance of ETH on exchanges to 21.72 million coins. According to #Cointelegraph sources, a record for this indicator was set at 31.68 million ETH in June 2020. It is noteworthy that more than 30 percent of the total volume of withdrawn coins in 2022 were transferred to investors' wallets the week before last, respectively, now this trend is extremely popular (Screen 1). In particular, more than 180 thousand ETH left the trading platforms on March 15, resulting in a weekly outflow of just over $ 500 million as of March 18. Analysts of the Chainalysis platform also note that on average about 120 thousand ETH are withdrawn from the exchange, and such rates can be considered as a prerequisite for a new wave of growth. Such logic is really obvious. Nevertheless, it is advantageous for investors to keep assets on the trading platform if they are already ready to get rid of cryptocurrencies at a certain price level, or if they are just waiting for the asset value to jump to a predetermined level. Otherwise, it is safer to store coins on so-called non-custodial wallets outside of exchanges or even on hardware wallets. However, the latter guarantee a higher level of security and eliminate the risk of hacking the exchange due to a possible vulnerability. The mass withdrawal of coins last week coincided with the transfer of about 190 thousand ETH to a pool called set liquid stalin from Lido. Recall that Lido is a staking service that allows users to deposit coins into the Ethereum 2.0 deposit smart contract as a pool. That is, thanks to Lido, users can profit from staking even with an investment of less than 32 ETH — this is the minimum bar for obtaining the role of a #validator in Ethereum 2.0. In the first half of March, the volume of ethers in the stacking of the updated Ethereum 2.0 network exceeded the level of 10 million units. 66 percent of this amount is provided precisely thanks to platforms that allow you to deposit any number of coins with a tracker and receive the corresponding percentages of income. The said Lido site accounts for 22 percent of the total. In general, all of the above can be considered a positive sign for the price of Ethereum — the fewer coins on the #exchanges, the fewer sellers on the market. Consequently, an increase in the value of cryptocurrencies in such conditions is more likely, because the possible pressure of sellers in this case has less effect on the value of the asset.