This article is also available in Spanish.
Fresh reports have revealed a mass exodus Ethereum (ETH) tokens from various cryptocurrency exchanges. IntoTheBlock’s on-chain data shows that over $1.4 billion worth of Ethereum has been withdrawn from exchanges. This large-scale ETH outflow is one of the largest in recent months, signaling a potential shift in investor behavior.
Ethereum exchanges are seeing massive outflows
IntoTheBlock, a cryptographic analytics platform, reported that the value of Ethereum was recently over $1.4 billion withdrew from cryptocurrency exchanges. This large-scale transfer typically occurs when investors purchase cryptocurrency from an exchange and transfer it to their private wallets, rather than storing it on a centralized exchange.
Given the huge amount of ETH, investors may be planning for this hold your assets instead of selling them. IntoTheBlock data indicate that approximately 74 percent ETH HODLing Investors for over a year, which highlights the common tendency among investors to hold on to their assets.
The last time Ethereum exchanges saw outflows at this high level was November 2024. Bitcoin (BTC) AND Dogecoin (DOGE) were the most critical event of the market, recording huge increases Donald Trump’s victory in the presidential elections in the United States (USA).
In contrast, Ethereum posted less impressive gains as it struggled to break through resistance levels to reach recent highs. Given Current ETH volatility and price fluctuations, there would be nothing strange about it investors decided to sell their shares to prevent potential losses. However, the opposite appears to be the case as these investors are holding on to their assets, perhaps counting on possible price increases in the future.
Confirming massive ETH outflows from exchanges, CryptoQuant highlighted a decrease in overall selling pressure in the Ethereum market. The blockchain analytics platform revealed that while inflows and outflows have increased slightly, net flows remain negative.
IntoTheBlock also shows this influences over the last week they increased by 43.07%, while the outflow of funds increased by as much as 57.35%. The net flow of vast Ethereum holders remains negative, decreasing by 26.35% over the past week and 47.60% over the past 30 days.
Interestingly, there have also been major outflows Spot Ethereum ETFswith Wu Blockchain revealing that the total net outflow of these ETFs increased to $68.47 million.
Analyst gives bearish Ethereum price forecast
“More Crypto Online (MCO), the crypto community on X, has common a gloomy Ethereum price forecast, predicting an immediate decline in line with the third wave of the Elliott Wave theory. According to the analyst, Ethereum is likely to stay where it is current phase of consolidation throughout the weekend as Wave 2 unfolds.
The analyst provided potential targets for the expected decline in Wave 3, with significant levels at 100%, 123.6% and 138%. If Ethereum experiences a drop to this extent, its the price may drop to $2,841, $2,660 and $2,555 respectively.
Featured image created with Dall.E, chart from Tradingview.com