by Rushali 
From the last 2 days, the amount of Ethereum kept at exchanges has jumped that, according to the CryptoQuant just 8.1 million ETH is currently held in the reserves of centralized exchanges.
The acceleration of ethereum being taken off exchanges was first noticed by Nuggets News’ Alex Saunders, who noted a 10% drop in Ether reserves on centralized platforms on Jan.14 — from 11 million to 10 million over 24 hours. After that he predicted, “Exchanges will run out of ETH in 10 days at the current rate.”
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Today also he tweeted and noted the decline in Ether reserves had escalated by a further 20%. Due to which, he suggests that centralized platforms may run out of ethereum in the next 48 hours.
Not only him other data providers also show’s that exchange balances have fallen by 42.5% since mid-May 2020 when it touched all time high.
Glassnode data also indicates that ethereum reserves in centralized exchanges were not this low since July 2018. Now, only 7% of circulating ETH is held by the exchanges.
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CryptoQuant data shows that exchanges’ BTC reserves have fallen by 21% since posting an all-time high of nearly three million during March 2020. However, the Ether’s recent momentum of being taken off exchanges leaves that BTC far behind. Exchanges’
BTC reserves only fell by 4.5% since Oct. 20 while Bitcoin’s price increased 230%, from approximately $12,000 to $40,000.
But, the 600,000 of the recently moved Ether has been allotted to an internal transfer between Bitfinex cold wallets which is believed not to be recognized by Cryptoquant. And another 2 million Ether was identified as being moved to decentralized finance platform Gnosis.
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