Ethereum Recovers To $2,800 As Exchange Outflows Near $1 Billion

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Ethereum Recovers To $2,800 As Exchange Outflows Near $1 Billion - NewsBTC

Quick Summary:

Ethereum Exchange Outflows Spiked After Price Crash According to data from the market intelligence platform IntoTheBlock, investors reacted to the latest crash in the Ethereum price by making outflows from exchanges.

Now, here is a chart that shows the trend in the Ethereum Exchange Netflow over the past year: As is visible in the above graph, the Ethereum Exchange Netflow observed a massive negative spike yesterday after the crash in the asset’s price took place.

In total, the investors withdrew 350,000 ETH (worth around $982 million at the current exchange rate of the token) from the exchanges in this outflow spree.“This is the highest amount of net exchange withdrawals since January 2024! ” notes the analytics firm.