ETH Balance on Exchanges Touch 2 Year Low, What's Next?

Ether ($ETH), the second-largest cryptocurrency by market cap has been on a phenomenal run over the past couple of weeks and reached a new ATH of $4,197 yesterday. Amid growing demand from institutions and record market dominance currently above 19%, the ETH balance on centralized exchanges dipped to a 2-year low. The continuous dip in the market supply of Ether amid growing demand is a key reason behind surging prices.