A recent Santiment research claims that as investors actively remove Ethereum to their cold wallets, exchanges continue to lose their supply.
The second-largest cryptocurrency, which is now among the top ten best-performing crypto assets in 2023 so far, has increased by around 60% since the beginning of the year.
The largest Ethereum wallets that are not connected to exchanges continue to get more Ethereum put into them as a consequence of a significant accumulation, according to a recent Santiment tweet. While this is going on, ETH is bouncing about the $1,900 mark as bulls and bears compete for control of this price range.
Meanwhile, the amount of ETH available on exchanges has decreased to 9.2%.
Ethereum is the second-best performing cryptocurrency this year, according to a new CoinGecko study. It has seen an increase of 59% since the beginning of 2023, behind just the leading cryptocurrency Bitcoin with an increase of 84% year to date. It traded for $1,196 per coin on January 1.
ETH is currently trading at $1,884, according to data from CoinMarketCap. The price of the currency has increased by over 10% over the past seven days but has decreased by 0.20% during the past 24 hours.
