Attention, crypto enthusiasts! On-chain data has revealed that Ethereum has just experienced its largest daily withdrawal in over a month, and it’s a whopping $390 million! 😲💸
Ethereum Exchange Outflows: A Bullish Sign?
According to Sentora (formerly IntoTheBlock), a significant amount of Ethereum has left exchanges recently. The “Exchange Netflow” indicator measures the net amount of ETH entering or exiting exchange wallets. When this value is positive, it means exchanges are receiving a net number of deposits, which can have a bearish implication for ETH price. On the other hand, a negative value suggests exchange outflows outweigh inflows, implying holders are accumulating and potentially driving up the asset’s price.
The chart below shows the trend in Ethereum Exchange Netflow over the past month:
As displayed in the graph, Ethereum Exchange Netflow has seen a sharp negative spike during the past day, indicating investors have withdrawn a significant amount of the cryptocurrency. In total, exchanges have handled net outflows of more than 140,000 ETH (worth about $390 million) with this withdrawal spree, marking the largest single-day exit in over a month.
These outflows have come as Ethereum has been attempting a breakout from its month-long range, suggesting that some large holders may have confidence in this rally.
In other news, the cash-margined Ethereum Futures Open Interest has set a new all-time high, as revealed by Glassnode in an X post.
The Futures Open Interest measures the total amount of positions related to Ethereum that are currently open on all derivatives platforms. The ‘cash-margined’ Open Interest includes all contracts that have fiat/stablecoins as collateral. From the chart, it’s clear that this metric has recently seen rapid growth and has achieved a new record of about $20 billion.
ETH Price Update: A Temporary Setback?
Ethereum crossed beyond the $2,800 level earlier but has since seen a setback, with its price now at $2,750.
So, dear readers, will this massive Ethereum exodus lead to a bullish breakout? Only time will tell. Stay tuned for more exciting updates in the world of cryptocurrency! 🚀🌕
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2025-06-13 11:11