The fluctuation in Ethereum prices has led to the lowest level of exchange reserves since 2016

As of August, the balance of Ethereum (ETH) on exchanges has significantly decreased. There were 14 million ETH at the beginning of this year, and the exchange reserves have gradually reduced to below 12.5 million by the end of June, and dropped to a low point of about 11.7 million ETH in early August, which is the lowest level since 2016. This coincides with a period of price volatility for Ethereum, fluctuating from around $4,000 in March to a sharp decline at the end of July.