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New reports revealed a mass migration 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 IntoTheBlock’s on-chain data shows that over $1.4 billion worth of Ethereum has been withdrawn from exchanges.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 outflow of ETH represents one of the largest in recent months, indicating a potential shift in investor behavior.
Ethereum exchanges are experiencing massive outflows
IntoTheBlock, a cryptocurrency analysis platform, I mentioned Recently, over $1.4 billion worth of Ethereum was mined Moved from crypto exchanges. This large-scale transfer typically occurs when investors buy cryptocurrency from an exchange and move it to their own wallets instead of storing it on a central exchange.
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Given the huge amount of Ethereum, investors may be planning for this Stick to their origins Instead of selling it. IntoTheBlock data indicates that approximately 74% of ETH investors have been consistent For more than a year, highlighting the trend among investors to hold on to their assets.
The last time Ethereum exchanges saw outflows at this high level was in November 2024. At that time, Bitcoin (BTC) and Dogecoin (DOGE) It was the highlight of the market, seeing huge gains afterwards Donald Trump wins In the presidential elections in the United States (US).
In contrast, Ethereum has seen less impressive gains, as it struggles to break through resistance levels to reach new highs. grant Current volatility of ETH And price fluctuations, it would not be surprising if The investors decided to sell their properties To prevent potential losses. However, the opposite appears to be the case, as these investors are holding on to their assets, perhaps counting on a potential price increase in the future.
Confirmation of massive ETH inflows from exchanges, CryptoQuant Highlight Low overall selling pressure in the Ethereum market. The blockchain analytics platform revealed that although inflows and outflows increased slightly, net inflows remained negative.
IntoTheBlock shows that too Inflows They increased by 43.07% over the past week, while outflows rose by a whopping 57.35%. Ethereum’s net holder flow remains negative, down 26.35% over the past week and 47.60% in the last 30 days.
Interestingly, there were also sharp outflows from Ethereum ETFsWith Wu Blockchain Revealing The total net outflow of ETFs increased to $68.47 million.
An analyst reveals a bearish forecast for the price of Ethereum
“More Cryptocurrency Online (MCO), the cryptocurrency community on subscriber Gloomy Ethereum price forecast, indicating a direct decline in line with the third wave of Elliott Wave Theory. According to the analyst, Ethereum is likely to stay where it is Current consolidation phase Over the weekend as wave 2 unfolds.
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The analyst provided possible targets for the expected decline in wave 3, with important levels at 100%, 123.6% and 138%. If Ethereum experiences a decline to these degrees, it will be The price could collapse to $2,841, $2,660, and $2,555, respectively.
Featured image created with Dall.E, chart from Tradingview.com