The Glassnode data provider reported that Ethereum’s amount on crypto exchanges reached a 20-month low and ETH traded over $ 2,000.
According to the latest data shared by Glassnode on Twitter, users are actively pulling ETH from digital exchanges. The output of the second largest cryptocurrency reached a one-month high of 20,422,908 ETH (seven-day moving average). This amount is equivalent to 41,595,132 dollars.
Also, the ETH balance on crypto trading platforms dropped to a 20-month low, with a total of 14,605,497,262 ETH. This represents $ 29,735,185,820 in fiat currency. Those who think Ethereum will have a good rise may be attracting to hod their ETH.
The second largest digital asset rose above the $ 2,000 level last Friday, and also hit an all-time high of $ 2,152 on the same day. As of the time of writing, ETH is trading at $ 2,050 and is growing by about 20 percent compared to last week.
The most important factor that brought ETH to an all-time high was that billionaire Mark Cuban announced his ETH investment. Until recently, Cuban was a Bitcoin critic and had bad rhetoric about cryptocurrency in general. In a statement he made, he even said he preferred banana to BTC.
Now it turns out that Cuban allocates 60 percent of its portfolio to Bitcoin, 30 percent to Ethereum and the rest to altcoins. Other institutional investors are also showing increasing interest in Ethereum and Bitcoin through mutual funds such as Grayscale. Grayscale currently has 3.17 million ETH.
In addition, analysts and investors continue to have bullish expectations for Ethereum.