Ethereum (ETH) exchange holdings highly concentrated on these two platforms $ETH ETH
Nansen gives a breakdown of the top five ETH balances: 8.72 million ETH are held on Coinbase; Binance's crypto exchange retains a holding of 4.94 million ETH; Kraken, Bitfinex and OKX account for balances of 1.97 million, 1.82 million and 1.25 million, respectively.Following the mid-September Merge update, which transitioned the ETH network from proof of work to proof of stake, the number of small-sized Ethereum holders has increased. climbed from 1.57 million to 1.
The comparatively greater percentage growth for addresses holding more than one ETH could be attributed to optimism following Ethereum's successful Merge in September and anticipation for its planned Shanghai upgrade. On Tuesday, Ethereum engineers revealed that they had made significant advancements toward the network's expected Shanghai update, which is scheduled for around March. Stakeholders will be able to withdraw their ETH and accrued rewards after the Shanghai update.
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