Ethereum, the second-largest cryptocurrency by market cap, continues to undergo a supply reduction as the latest Shanghai upgrade progresses.
Highlights
- ETH, the world’s second-largest cryptocurrency by market capitalization, continues to undergo a supply reduction as the latest Shanghai upgrade progresses.
- There is just 10.31% of existing ETH on exchanges, which is the lowest level since July 2015.
- ETH is now trading at $1,728, down 1.71% in the last 24 hours, with a total market cap of $211 billion.
- Almost 90% of Ether is now off exchanges as regulators continue to struggle to classify ETH as a security or commodity.
- The trend is due to a growing trend among investors to hold their tokens in personal wallets instead of leaving them on crypto exchanges.
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