As of August, Ethereum (ETH) balances on exchanges have seen a significant decline. At the beginning of this year, exchanges held approximately 14 million ETH.
However, these reserves have gradually decreased, dropping below 12.5 million by the end of June, and hitting a low of around 11.7 million ETH in early August — the lowest level since 2016. This drop coincided with a period of price volatility for Ethereum, which fluctuated from around $4,000 in March to a sharp decline by the end of July.
