Ether reserves on exchanges have fallen by 1.16% since June 1. According to Santiment analysts, exchange balances had already dropped this summer to levels comparable to those seen in Ethereum’s early years.
The analysts estimate that around 35% of the total ether supply is currently staked, while the total value locked in the decentralized finance ecosystem stands at approximately $53 billion.
They also highlight a substantial imbalance in staking demand: around 1.68 million ETH is waiting to enter staking, compared with approximately 154,000 ETH waiting to exit.
Earlier, CryptoQuant analysts reported that combined ether reserves on major cryptocurrency exchanges Binance, OKX, Gemini and Bitfinex fell by 475,000 coins during the first week of June.
Binance’s reserves declined from 3.87 million to 3.68 million ETH, a decrease of 190,000 coins. Over the same period, Bitfinex’s reserves dropped from 2.67 million to 2.49 million ETH, a decrease of 180,000 coins.
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