Ethereum Exchange Outflows Reach $1.4 Billion, Highest in Two Months
Recent data indicates significant outflows of Ethereum (ETH) tokens from exchanges, totaling over $1.4 billion. This trend suggests a shift in investor behavior, with many opting to move their assets to private wallets instead of keeping them on centralized platforms.
Key Highlights
- Over $1.4 billion worth of Ethereum withdrawn from exchanges.
- Approximately 74% of ETH investors have held their assets for over a year.
- Last similar outflow occurred in November 2024, during a market rally influenced by political events.
- Current ETH volatility may lead to selling pressure, but the trend shows increased holding.
- CryptoQuant reports a decrease in overall selling pressure in the Ethereum market.
- Inflows increased by 43.07%, while outflows surged by 57.35% in the past week.
- Net outflow from Ethereum Spot ETFs reached $68.47 million.
Price Predictions
Analysts forecast a potential decline in Ethereum's price, aligning with the Elliott Wave theory. Projected targets for this decline are:
- $2,841
- $2,660
- $2,555
Ethereum is expected to remain in its current consolidation phase through the weekend.
