The Ethereum (ETH) balance in multiple mainstream centralized exchanges, like Coinbase and Binance, has hit a new low. According to Leon Waidmann on X, over 7 million ETH have been withdrawn since April 2023.
Is It DeFi, NFT, Or EigenLayer Sapping ETH From Exchanges?
This decline is net bullish for the coin, possibly hinting that other on-chain activities like non-fungible token (NFT) minting or decentralized finance (DeFi) are taking center stage.
Coincidentally, the drop also comes amid the rise of “restaking” enabled by protocols like EigenLayer. The platform is garnering interest, sparked by its ongoing airdrop, which is set to incentivize participation.
Technically, coin outflow from centralized exchanges is a leading indicator for increasing scarcity and bullish sentiment.
Users use centralized exchanges like Binance or Coinbase as conduits to either shift to stablecoins or fiat or participate in DeFi or NFT since they can easily purchase coins.
However, with less E
We współpracy z: https://bitcoinist.com/ethereum-drained-exchanges-eigenlayer-eth-bulls/
