Recent data indicates a significant decrease in Ethereum balances on centralized exchanges, with approximately 200,000 ETH withdrawn in a short time period.
ETH Withdrawals From Exchanges
According to Ali Martinez, around 200,000 ETH were withdrawn from centralized exchanges over the last two days, reflecting a drop in the total Ethereum held on these platforms. Currently, the total amount of ETH on exchanges is estimated at about 5.82 million, marking the lowest level in recent weeks.
Netflow Data Supports Withdrawal Spike
Netflow data, which tracks the difference between deposits and withdrawals, shows strong negative values over the same 48-hour window. On August 23, the chart recorded one of the steepest outflows in over a month. The red bars seen on the charts indicate consistent withdrawal pressure.
ETH Price Moves Toward All-Time High
At press time, the price of Ethereum was trading at $4,780, marking a 1% increase over the past 24 hours and a 6% rise over the past week. The trading volume over the past day reached over $20 billion.
In conclusion, the significant withdrawals of Ethereum from exchanges combined with price increases indicate heightened investor activity. The next move of ETH remains a focal point.
