Fun

Ethereum Exchange Outflows Hits 2-Month High With $1.4 Billion Withdrawn, What This Means

News Feed - 2025-01-12 03:01:10

Este artículo también está disponible en español.


New reports have revealed a massive exodus of Ethereum (ETH)tokens from various crypto exchanges. IntoTheBlock’s on-chain data shows that over $1.4 billion worth of Ethereum has been withdrawn from exchanges. This large-scale ETH outflow marks one of the largest in recent months, signaling a potential shift in investor behavior. Ethereum Exchanges See Massive Outflows


IntoTheBlock, a crypto analytics platform, reportedthat over $1.4 billion worth of Ethereum was recently moved out of crypto exchanges. This large-scale transfer usually occurs when investors buy a cryptocurrency from an exchange and move it to their private wallets rather than storing it on the centralized exchange.  Related Reading Is Dogecoin’s 30% Decline A Chance To Buy On Discount? Here Is the Pertinent Level To Watch 1 day ago


Considering the sheer amount of ETH involved, investors may be planning to hold onto their assetsrather than sell them. Data for IntoTheBlock indicates that approximately 74% of ETH investors have been HODLingfor over a year, highlighting a widespread trend amongst investors to retain their assets. 


The last time Ethereum exchanges experienced outflows at such a high level was in November 2024. At the time, Bitcoin (BTC)and Dogecoin (DOGE)were the highlight of the market, experiencing massive gains following Donald Trump’s winin the United States (US) Presidential elections. 


In contrast, Ethereum saw less impressive gains, struggling to break through resistance levels to reach new highs. Given ETH’s current volatilityand price fluctuations, it would not be surprising if investors decided to sell off their holdingsto prevent potential losses. However, the reverse seems to be the case, as these investors are holding on to their assets, possibly banking on a possible price increase in the future. 


Confirming the massive ETH outflows from exchanges, CryptoQuant highlighteda decrease in overall selling pressure in the Ethereum market. The blockchain analytics platform disclosed that while inflows and outflows have increased slightly, net flows stay negative. 


IntoTheBlock also shows that inflowshave increased by 43.07% over the past week, while outflows have surged by a whopping 57.35%. Ethereum’s large holder netflow remains negative, decreasing by 26.35% over the past week and 47.60% in the last 30 days. 


Interestingly, there have also been severe outflows from Ethereum Spot ETFs, with Wu Blockchain revealingthat the total net outflow of these ETFs has increased to $68.47 million. Analyst Unveils Bearish Ethereum Price Prediction


‘More Crypto Online (MCO), a crypto community on X, has shareda bleak Ethereum price forecast, projecting a direct decline in line with the third wave of the Elliott Wave theory. According to the analyst, Ethereum will likely remain in its current consolidation phasethrough the weekend as its Wave 2 unfolds.  Related Reading Bitcoin Price Unravels 157-Day Fractal Similar To Last Cycle, Why A Surge To $169,000 Is Possible 1 day ago Source: X


The analyst has presented potential targets for the projected decline in Wave 3, with significant levels at 100%, 123.6%, and 138%. If Ethereum experiences a decline to these degrees, its price could crashto $2,841, $2,660, and $2,555, respectively.  ETH price rises toward $3,300 | Source: ETHUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

News Feed

Mark Zuckerberg says Meta wearables that read brain signals are coming soon
Martin Young2 hours agoMark Zuckerberg says Meta wearables that read brain signals are coming soonThe new neural technology that Meta is developing will be “pretty wild,” said Zuckerberg, adding its first application
ETH restaking drives DeFi TVL to $100B, Solana releases patch for network congestion: Finance Redefined
Prashant Jha4 hours agoETH restaking drives DeFi TVL to $100B, Solana releases patch for network congestion: Finance RedefinedThe Solana Foundation claimed network congestion was due to the high demand for Solana block s
Crypto Exchange Binance Ceases Derivatives Trading in Australia
Crypto Exchange Binance Ceases Derivatives Trading in Australia Amid regulatory scrutiny worldwide, global cryptocurrency exchange Binance has announced that it will cease offering
Prashant Jha1 hour agoTemasek, Sequoia Capital, Softbank, leading VCs face lawsuit for “abetting” FTX fraudThe lawsuit alleged that the VC firms made many deceptive and misleading statements about FTX while encouragi
David Attlee13 hours agoBank of Spain embraces ‘digital euro,’ explains its benefitsThe digital euro will make electronic payments a vital piece of the financial system, the statement claims.3812 Total views17 Total
Bank of Uganda Reportedly Commences CBDC Study
Bank of Uganda Reportedly Commences CBDC Study The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive wit
Reports Say FTX Warns Customers Not to Interact With Aztec Network, CEO Sam Bankman-Fried Responds
Reports Say FTX Warns Customers Not to Interact With Aztec Network, CEO Sam Bankman-Fried Responds According to reports on social media, a number of users have complained that FTX
Report: Ronin Sidechain Processed 560% More Total Transactions Than Ethereum Last November
Report: Ronin Sidechain Processed 560% More Total Transactions Than Ethereum Last November The blockchain-powered game Axie Infinity has been a very popular application during the
A Mysterious Airdrop Called EIDOS Is Clogging EOS to Make a Point
EOS has been clogged up by a giant airdrop for a token called EIDOS – and it’s not clear the token is even good for anything. In fact, it seems as though the people behind t
Mastercard Launches Digital Currency Testing Platform for Central Banks
Mastercard Launches Digital Currency Testing Platform for Central BanksMastercard has launched a digital currency testing platform aimed at helping central banks test their digital
NFL Bars Teams From Participating in Certain Cryptocurrency and NFT Ventures: Report
NFL Bars Teams From Participating in Certain Cryptocurrency and NFT Ventures: Report According to a recent report, the National Football League (NFL) advised teams that they could
Boxing Legend Mike Tyson Says He’s ‘All in’ on Solana Crypto — Asks Fans How High SOL Will Go
Boxing Legend Mike Tyson Says He"s "All in" on Solana Crypto — Asks Fans How High SOL Will Go Boxing legend Mike Tyson, aka “Iron Mike,” says he is “all in o