According to a recently shared Santiment report, exchanges keep losing their Ethereum supply as investors have been actively withdrawing it to their cold wallets.
In the meantime, the second largest crypto has surged nearly 60% since the start of the year, sitting among the top ten best-performing crypto assets in 2023 so far.
According to the recently published Santiment tweet, the biggest Ethereum wallets not linked to exchanges continue to get more Ethereum loaded into them as a result of a heavy accumulation. This is happening while ETH is dancing around the $1,900 level as bulls and bears are battling each other near this price mark.
The ETH supply on exchanges, meanwhile, has dropped to 9.2%.
According to a recent report by CoinGecko, Ethereum is the second best-performing crypto this year. Since the start of 2023, it has demonstrated a rise of 59%, following the flagship crypto Bitcoin with its 84% year-to-date rise. On January 1, it was trading at $1,196 per coin.
At the time of this writing, ETH is changing hands at $1,884, per CoinMarketCap data. The coin’s price is down 0.20% within the last 24 hours and is up by nearly 10% over the last seven days.