Ethereum, Market Analysis

Ethereum Exchange Outflows Reach ATH, Signaling ‘BUY’ Attitude.

The worldwide cryptocurrency market correction that slammed the sector at the start of the week has regretfully ended Ethereum (ETH) 70% run, which began in early October. Large players, on the other hand, are more than willing to grow their stakes at a discount, according to on-chain statistics.

Ethereum Withdrawals Have Become More Intense

Traders and investors are withdrawing cash from exchanges at never-before-seen rates, according to the Ethereum exchange outflows indicator. The indicator’s volume exceeded $100 million, which is a new high for the ETH network.

The previous ATH was set in the summer, in the middle of the year. Following a market drop, Ethereum lost 55% of its previously obtained value. Increased exchange inflows followed the negative cycle, indicating the availability of selling power.

Exchange outflows began to climb as the market began to recover, with Ethereum investors opting to keep their holdings rather than sell them. Traders have not yet begun to liquidate their positions, according to current statistics, which might be a significant bullish indication for the market.

At the time of Reporting, ETH is presently trading at a price of around $4200 USD, which is around -3.63% down for the day.

Ethereum Exchange Outflows Reach ATH, Signaling 'BUY' Attitude.

ETH Price Chart – Source: CoinMarketCap

Leave a Comment

Your email address will not be published. Required fields are marked *