Tuesday, December 6, 2022

Over $500M of ETH Withdrawn From Crypto Exchanges

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Stanislav Shishkinhttps://cryptoapa.com/
Stanislav is one of the lead copywriters on cryptoapa.com and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Stanislav at cryptoapa.com

Recent data released by IntoTheBlock revealed that 180,000 ETH was withdrawn from exchanges on March 15 – the most substantial aggregated exchange withdrawal of Ethereum since October of last year. Within 10 days, Ethereum’s price increased 15%, with it now at a price of $2,969 as of press time.

Investors bullish on Ethereum
Blockchain analytics platform Chainalysis suggests that a maximum of 352,317 ETH may have left exchanges in one day – the magnitude of which hasn’t been estimated by the firm in the last six months, believing these large outflows to be “bullish” indicators.
“Assets held on exchanges increase if more market participants want to sell than to buy and, if buyers choose to store their assets on exchanges,” said the company.
Glassnode data shows that nearly 550,000 ETH have left centralized exchanges to date, reducing the net ETH balance to 21.72 million – from a peak of 31.68 million ETH in mid-2020.

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