Ether held on exchanges has decreased over the last six months as the price of Ether remained stable, with holders continuing to stake their coins. Santiment data shows a decline from 12.31 million to 8.15 million tokens on exchanges. Staking interest is high with Ether trading between $2,801 and $3,034.

The Ethereum Validator Queue reports a 63-day wait for staking entry, with 3.6 million tokens in line to be staked. The total staked Ether is over 36 million, up from 35 million in June, representing about 29% of the total supply.

Ethereum is a proof-of-stake network where validators stake tokens to secure the network. Bitmine has staked over 2.5 million ETH, about 61% of its holdings. Staking is seen as a sign of confidence in the asset, while unstaking could indicate plans to sell.

Some stakers are accumulating Ether, with four wallets withdrawing over 26,000 tokens from Binance. The trading volume for Ether on CoinMarketCap was around $23.54 billion, slightly down from the previous day. This data suggests a possible accumulation of tokens by stakers.

Read more at CoinTelegraph: Ethereum Exchange Balances Fall as Staking Activity Accelerates