Recent data from the Sentora analytics platform revealed that $1.2 billion worth of Ethereum was withdrawn from centralized exchanges in the last week, indicating a trend of asset accumulation.
Volume of Withdrawals from Centralized Exchanges
According to Sentora data, Ethereum experienced a net outflow totaling $1.2 billion from centralized exchanges within the past week. The data also shows that net flows from exchanges were consistently negative from April 24 to May 1, with a notable outflow recorded on April 26.
Trends in ETH Withdrawals from ETFs
Lookonchain data from May 13 indicated that nine Ethereum ETFs had a combined net outflow of 4.189K ETH ($10.83 million), with Fidelity leading withdrawals at 3.247K ETH ($8.39 million). On May 6, these ETFs recorded a net outflow of 211 ETH worth about $373K.
Investment Sentiment Dynamics in Ethereum Market
Reports reveal that the last positive inflow of Ethereum to centralized exchanges was on April 27, when $50 million was attracted. Meanwhile, on April 26, these exchanges recorded a negative inflow of $166.68 million. Such changes in flows suggest that Ethereum investors may be preparing for a potential price rally.
The situation in the Ethereum market indicates substantial shifts in investment flows. Continuous withdrawals from centralized exchanges and ETFs may signal increasing investor interest and potential price volatility.
