Ethereum (ETH) is showing steady growth, with increased token outflow and price rises. Investors are optimistic about the cryptocurrency's future.
Ethereum's Outflow Peaks
According to Santiment, 224,410 ETH tokens were moved off exchanges between February 8th and 9th, with outflows hitting 768.5K on February 10th—the largest in 23 months. This surge indicates that investors are actively buying the asset anticipating price recovery, signaling growing market confidence.
Impact on Ethereum's Price
The outflow has positively impacted Ethereum’s price, which increased by 2.84% to $2716. This growth is also reflected on weekly charts by 0.84%. Institutional investors continue accumulating, as indicated by the positive Coinbase premium index throughout the week.
Institutional Demand and Outlook
Institutional demand is further affirmed by the large holders' net flow, which saw positive capital inflow over six days starting February 5th. This suggests that large investors are buying more tokens, reflecting their confidence in Ethereum’s future.
Ethereum continues to attract investor attention amid record outflows and increasing prices. If this trend persists, its price could reach $3000, though the risk of dropping to $2591 remains if sellers exert pressure.
