Ether balances on exchanges have fallen sharply in the last 30 days and hit a new low of 12.6 %

Glassnode data shows that Ether balances on exchanges have dropped sharply in the last 30 days and hit a new low of 12.6 %. November 2022 saw a similar drop in Ether trading balances, followed by a sharp rise of 33 %. Although a rebound is possible, traders need to remain cautious as this decline in exchange balances may have been triggered by the SEC's actions against cex and Coinbase.