Ethereum (ETH) is flowing out of exchanges, with less coins now locked in custody. The asset shifted its use cases to decentralized finance (DeFi). Additionally, exchanges also shifted their dominance, with multiple market operators ousting US-based traders.
TokenAnalyst noticed significant exchange outflows, either moving to other markets or to other investment schemes.
https://twitter.com/thetokenanalyst/status/1199390640561369088
For ETH, there were several repercussions. Initially, a lot of ETH was stored on exchanges, while its value was low. After the price boom in 2017, more ETH was stored, or went into ICO projects.
The slide i...