On Exchanges, Only 11% of Ethereum In Circulation Is Held

The amount of Ethereum (ETH) on cryptocurrency exchanges has plunged to levels not seen since September 2018, as the cryptocurrency continues its seven-day climb and reaches the $3,000 barrier.

According to a figure provided on March 21 by the crypto market analytics platform CryptoRank, just 13.55 million ETH, or roughly 11.3 percent of the 120 million ETH in circulation, is now held on controlled exchanges.

At the time of publication, the total quantity of ETH in exchange wallets was 13,556,367. Coinbase has the most ETH (5.99 million, or 44.23 percent), while Binance has the second-most (2.39 million, or 17.69 percent).

The Ethereum balance in smart contracts is reversed

Meanwhile, as the value of ETH on exchanges declines, the supply of smart contracts increases, as evidenced by a chart released on March 21 by the co-founders of the on-chain analytics platform Glassnode.

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