ETH Volume on Crypto Exchanges Falls to Lowest Level in 3 Months

Reading time: < 1 minute

The price of Ether, the second largest crypto by market cap, has fallen more than 12% to $2,403 in the last 24 hours, while its capitalization has decreased by almost 20% to $284.169 billion over the past week.

Amid a market crash triggered by tensions in Europe, crypto exchanges liquidated more than $400 million worth of positions on February 24. The rollback was preceded by the withdrawal of Ether to the trading floors.

Glassnode analysts have said that yesterday the ETH exchange balance updated a three-month high. The volume of the crypto on the trading floors has exceeded 14.795 million coins.

Investors usually transfer cryptocurrencies to crypto exchanges when they plan to sell them. When this is not the case, they prefer to keep them in cold storages and other services in order to avoid possible hacker attacks.

Glassnode has also confirmed that long-term investors or so-called hodlers, on the contrary, are aggressively buying coins dumped by speculators.