NewsBTC
Mar 27, 2026 upd. 9 Jun

Exchange ETH balances hit 2016 low as staking locks 33%

1 min

OKX logs a $1.67B withdrawal in Ethereum. CryptoQuant says exchange supply is tightening as coins leave platforms.

Key points
- On Mar 22, analyst Amr Taha flagged a $1.67B ETH outflow from OKX on CryptoQuant.
- The same note highlights shrinking ETH balances on exchanges, pointing to tighter spot liquidity source.
- Trader Tardigrade spots a potential cup‑and‑handle on ETH’s daily chart on X. A confirmed breakout needs a push above the 50‑day EMA and key Fibonacci levels, per the thread.

Why it matters
- Large outflows reduce immediate sell supply on exchanges. This can amplify price moves when demand rises.