Data Shows CEXs Holding More ETH Than BTC

Data from analytics data provider CryptoQuant as shown that centralized exchanges (CEXs) have been holding more Ethereum than Bitcoin. It also shows that there are currently two altcoins being held by these exchanges above the leading crypto coin. This furthers the narrative that the exchanges are not holding much BTC.

According to the data, CEXs are holding roughly 17.7 percent of ETH’s total circulating supply. The exchanges are also holding 17.5 percent of AAVE tokens and 19.5 percent for the Basic Attention Token. Bitcoin, on the other hand, only has 12.7 percent of its supply in CEX. This is roughly the same amount as LINK and SUSHI tokens while YFI (yearn.finance) tokens top it at bit at 13% flat. 

Moving forward, the total value of assets locked in the Ethereum 2.0 deposit contract is currently at $55 million ETH while the total units of Ether locked in the aforementioned contract is currently at 3,541,442 ETH. Both are at an all-time high, further proving that Ethereum is currently at the top of its game.

There is also a surge in the number of new validators who are locking their coins to the ETH 2.0 contract. As of March 9, the total value locked in the contract was worth 3 percent of the circulating ETH supply, amounting to 3,442,946 ETH.

All this had pushed ETH 2.0’s new staking mechanism to have roughly 670 new validators a day, with them staking roughly 33 ethers which is approximately $59,809. Currently, the market value of ETH is above $1,800 according to CoinMarketCap.

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