Ethereum, one of the most popular cryptocurrencies, is once again attracting investor attention after a significant outflow of coins from exchanges. Experts are divided in their opinions about ETH's future price.
Ethereum Outflows from Exchanges
In the past week, over 500,000 ETH worth more than $2.1 billion have been withdrawn from exchanges. This marks the lowest level of ETH reserves on exchanges since the summer of 2016, indicating a shift towards self-custody methods among investors.
Demand Dynamics from Whales
Whales, large holders of ETH, continue to actively accumulate coins. Recently, they added 260,000 ETH in just one day, bringing their total holdings to 29.62 million ETH, which accounts for nearly a quarter of the asset's circulating supply.
Analysts' Opinions
Among analysts and investors, there is optimism regarding ETH, with some believing the price has reached a bottom and is ready for growth. However, others express a more cautious stance, highlighting potential price corrections down to $3,800.
The outflow of Ethereum from exchanges and whale activity creates the potential for a new price momentum. However, the division in analyst opinions leaves questions about the future direction of the market.
