According to the on-chain expert and author, a noticeable change in investor behavior occurred on Binance during the month of August, which marked the first of its kind since 2023. Meanwhile, Ethereum took the center stage with a massive increase in trading volume over other major assets.
Also, a declining exchange reserve is an indication that investors are moving their holdings off centralized exchanges to long-term storage or cold storage. Such a trend points to growing conviction among investors, which typically reduces selling pressure on ETH.
