Ethereum reserves on exchanges hit 3-year low

According to data released by Glassnode, although it has only been nearly 3 months in 2022, nearly 550,000 ETH, worth about 1.61 billion USD, is leaving exchanges.

This massive retracement has reduced Ethereum’s net balance on the exchange to 21.72 million ETH, the lowest level since September 2018, signaling a strong signal that investors intend to hold Ethereum as they hope that the price will rise in 2022.