Ethereum is showing a strong recovery after its late July dip and is approaching its all-time high. Increased outflows from exchanges may signal positioning for potential profit-taking.
Ether Outflows from Exchanges
According to analysts, over 1.2 million Ether have been withdrawn from exchanges over the past 30 days. This outflow coincided with a nearly 60% increase in Ethereum's price, surpassing the $4,000 mark.
Rising Ethereum ETF Activity
On the weekend of August 12, Ethereum-based ETFs recorded capital inflows exceeding $1.5 billion, indicating growing institutional interest. Investments in Ethereum since May 16 have surpassed $8 billion, now totaling $27.6 billion in assets.
Forecasts for Continued ETH Growth
Experts suggest that the upward price trend for Ethereum may persist, especially if average outflows remain in the negative territory. Currently, Ethereum is trading at $4,700, highlighting investor interest and high whale activity.
The growth of Ethereum and high outflows may reflect optimism for further increases in asset value. Considering current market trends and institutional investor interest, it is likely that Ethereum will soon reach a new all-time high.
