Ethereum Exchange Outflows Hits 2-Month High With $1.4 Billion Withdrawn, What This Means
New report shows massive exodus Ethereum (ETH) Tokens from various cryptocurrency exchanges. On-chain data from IntoTheBlock shows that more than $1.4 billion worth of Ethereum has been withdrawn from exchanges. The massive ETH outflow is one of the largest in recent months and signals a possible shift in investor behavior.
Ethereum exchanges experience massive capital outflows
IntoTheBlock, a crypto analytics platform, report Ethereum was recently valued at over $1.4 billion Exit a cryptocurrency exchange. Such large-scale transfers typically occur when investors purchase cryptocurrencies from exchanges and transfer them to their private wallets rather than storing them on centralized exchanges.
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Given the sheer amount of ETH involved, investors may plan to retain their assets Instead of selling them. According to IntoTheBlock, approximately 74% ETH investors have been holding More than a year ago, it highlighted a general trend of investors retaining assets.
The last time an Ethereum exchange experienced such high levels of outflows was in November 2024. Bitcoin (BTC) and Dogecoin (DOGE) Was the market’s bright spot and subsequently experienced huge gains donald trump’s victory in the United States (US) presidential election.
In comparison, Ethereum’s gains were less impressive and it struggled to break through resistance levels to reach new highs. given ETH current volatility and price fluctuations if Investors decide to sell their shares to prevent potential losses. However, the opposite appears to be true, as these investors hold onto their assets, possibly counting on possible price increases in the future.
CryptoQuant confirms large ETH outflow from exchange Highlight The overall selling pressure in the Ethereum market decreased. The blockchain analytics platform disclosed that while inflows and outflows increased slightly, net flows remained negative.
IntoTheBlock also states inflow It increased by 43.07% in the past week, while outflows surged by 57.35%. The net flow of large Ethereum users is still negative, with a decrease of 26.35% in the past week and a decrease of 47.60% in the last 30 days.
Interestingly, capital outflows have also been significant. Ethereum Spot ETFwith Wu Blockchain reveal Total net outflows from these ETFs have increased to $68.47 million.
Analyst releases bearish Ethereum price prediction
“More Crypto Online (MCO) is a crypto community on X, shared The Ethereum price forecast is bleak, with a direct decline expected, in line with the third wave of the Elliott Wave theory. According to analysts, Ethereum may continue to remain at Current consolidation stage Over the weekend, a second wave is about to unfold.
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Analysts proposed potential targets for the expected decline in the third wave, with significance levels of 100%, 123.6%, and 138%. If Ethereum experiences a decline of this magnitude, Prices may collapse They are $2,841, $2,660 and $2,555 respectively.
Featured image created using Dall.E, chart from Tradingview.com
