ETH Transaction Platform Balance Hits Nearly 3-Year Low, Withdrawal Acceleration Seen in the Past 3 Months
BlockBeats News, September 4th, according to CryptoQuant data, since reaching a peak of about 28.8 million in September 2022, the ETH exchange platform reserve has decreased by nearly 10.7 million. The current reserve is about 17.4 million ETH, with about 2.5 million ETH being withdrawn from the exchange platform in just the past three months.
The data shows that the spot ETH ETF launched in July 2024 has attracted over $13 billion in net inflows to date. From June to August, these funds saw net inflows of over $10 billion, with a record $5.4 billion in inflows in July alone.
Corporate bonds are also driving demand. Over the past few months, several publicly traded companies have announced the issuance of ETH bonds, with corporate treasury purchases impacting the exchange's ETH supply. It is known that 17 publicly listed companies hold ETH on their balance sheet, with a total holding of over 3.6 million ETH.
An analyst at Bitfinex stated that one of the key attractions of ETH as a reserve asset is its yield potential. "Unlike Bitcoin, ETH is both a macro asset and a productive asset, earning yields through staking and holding over $100 billion in tokenized assets in the L2 and DeFi space."
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