Recently, Ethereum’s market dynamics have shifted significantly, with one crucial aspect being the steep drop in exchange reserves. Current reports indicate the reserves are at the lowest they’ve been since 2016. This clear movement of Ethereum away from exchanges and into long-term storage follows a pronounced trend. At the same time, on-chain activity keeps getting better and better. More and more, we’re seeing “efficient” on-chain activity, and a gas fee reduction just makes that situation better. “Longer-term holders” now seem to be more the rule than the exception when it comes to Ethereum. And all that seems to leave the
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