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Balances on centralized exchanges for BTC and ETH Have Dropped to Multi-Year Lows
Svmuu News: Bitcoin and ether balances on centralized exchanges have fallen to multi-year lows. Analysts say the reliability of this metric as a price signal has declined, as large amounts of crypto assets have shifted to institutional custody, ETFs, DeFi protocols, and other on-chain uses. At the same time, more and more Bitcoin and ether are being effectively locked up by companies seeking long-term price appreciation. (CoinDesk).
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