Ethereum Sees 128,500 ETH Outflow from Binance Amid $443M ETF Inflows
Ethereum (ETH) Update
- Reached an all-time high of $4,953 on August 24, with a market cap near $600 billion.
- Currently trading at $4,430, following a decline of over $60 billion in market value within two days.
- Despite the drop, notable accumulation is occurring.
- US-based spot ETH exchange-traded funds saw net inflows of $443.9 million on August 25, led by BlackRock’s ETHA fund with $314.9 million.
- Binance accumulated nearly 128,500 ETH, valued at $568.3 million.
- Bybit experienced an outflow of 14,160 ETH, while Kraken, Coinbase Pro, and OKX recorded net inflows of 28,940 ETH, 23,820 ETH, and 12,770 ETH, respectively.
- Net outflow from centralized exchanges was 74,500 ETH, reducing exchange balances to 14.6 million ETH.
- BitMine Immersion increased its holdings to 1,713,899 ETH after accumulating 190,500 ETH in one week.
- Retail investors are selling for short-term profits, while whale accumulation remains strong.