According to data tracked by Cryptorank and Santiment, the number of wallets held in wallets tied to centralized exchanges has fallen to a nine-year low of 8.97 million tokens.
That's the lowest tally since November 2015.
Continuous departure of coins from centralized trading platforms could reduce the availability of coins in the market, leading to a surge in rising prices.
“Investors will continue to move ETH to cold storage to reduce available liquidity. BTC saw a similar trend when exchange reserves hit their seven-year low in January and then a sharp price surge followed,” Cryptorank said.
The number of BTC held in the central exchange reached its lowest level in seven years on January 13th, and prices have since risen from around $90,000 in the following days to over $109,000.
