The outflow of Ether (ETH) from cryptocurrency exchanges has been increasing since mid-January 2021. Many analysts have previously paid attention to this trend.
NuggetsNews founder Alex Saunders tweeted, that on January 22, there was the most massive outflow of digital currency from trading floors. In just an hour, the exchanges left 659,000 ETH, this expert noted, referring to the data of the CryptoQuant platform.
Largest withdrawal of $ ETH ever? 659k ETH left exchanges in a single hour yesterday as dip buyers sent coins to their stack & stake. Great data as always @cryptoquant_com!
🌏✅🚀 #EIP1559 #Quartering #YieldFarming pic.twitter.com/DjqvYOspKd
— Alex Saunders 🇦🇺👨🔬 (@AlexSaundersAU) January 23, 2021
Saunders suggested that ether holders moved their coins to offline wallets, shipped them to the DeFi decentralized finance market, or to the ETH 2.0 contract. Any of these actions by investors indicates that they expect the altcoin rally to continue.
On the eve of ETH, it jumped to $ 1453 – this is the highest altcoin value in its entire history. Today the cryptocurrency is trading in the $ 1,433 area, retreating slightly after the race.
The InoTheBlock team report also it says on a large-scale withdrawal of ether from trading floors last Friday, January 22.
On this day, investors withdrew more than 934,000 ETH – this is the largest outflow in the last four years. The largest share of the cryptocurrency was withdrawn from the Bitstamp exchange, the researchers emphasized.
Staggering amounts of $ ETH continue to find their way out of centralized exchanges.
This Friday, @intotheblock Netflows Indicators spotted the largest withdrawal of ETH in almost 4 years.
Over 934,000 ETH were removed that day, the majority coming from Bistamp. pic.twitter.com/A00gJHwjdp
— IntoTheBlock (@intotheblock) January 24, 2021
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