Ethereum exchange balances drop 0.36% after Binance hack, price holds near $2,264

Ethereum ‘s presence on major exchanges has declined sharply in the wake of recent security incidents, with the network seeing a pronounced contraction in liquidity over the past week. The drop coincides with an exploit involving Binance, one of the largest global cryptocurrency exchanges, intensifying scrutiny on Ethereum’s circulating supply and short-term market sentiment. On-chain data reveals that from October 28 to November 2, the proportion of Ethereum’s total supply held on centralized exchanges fell from 3.56% to 3.20%, marking a drop of 0.36%. This shift was concentrated around October 29, the day Binance suffered a hot wallet security breach.

Source: CoinTurk News