Ethereum could be poised for another strong October if history repeats itself. On average, ETH has gained 4.77% during the month, which would place the coin above $4,500 by the end of October.
With on-chain data showing fewer selloffs and increased network activity, the coin could record gains over the next few weeks.
Ethereum Investors Move Coins Off Exchanges, Confidence on the Rise
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According to CryptoQuant, ETH’s exchange reserve has declined consistently over the past few months. It sits at a nine-year low of 16.38 million ETH at press time, signaling that fewer coins are being held on centralized platforms for potential selling.
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ETH’s exchange reserve tracks the total amount of the coin held in wallets associated with centralized exchanges. When the figure rises, it usually indicates that holders are moving their assets to exchanges, potentially preparing to sell or trade them.
Conversely, a declining reserve suggests that investors are transferring their coins into cold storage or long-term custody, reflecting a lower intention to sell.
In ETH’s case, the steady fall in exchange reserves indicates growing investor confidence and long-term holding behavior.
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A large part of this trend has been attributed to swelling institutional accumulation. According to SosoValue data, monthly net inflows into spot ETH exchange-traded funds (ETFs) totaled $286 million in September.
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Author: Abiodun Oladokun
