Ethereum (ETH) Sees Significant Outflows from Exchanges, Potentially Reducing Selling Pressure
In a surprising turn of events, Ethereum (ETH) experienced a significant outflow from centralized exchanges this week, providing a potential relief from selling pressure on the ETH market, according to a recent analysis by crypto analytics firm IntoTheBlock. The firm’s head of research, Lucas Outumuro, tracked Ethereum’s netflows, which measure the amount of ETH moving in and out of centralized exchanges by subtracting withdrawals from deposits. The analysis revealed that more than $1 billion worth of Ethereum netflows left exchanges, indicating a decrease in selling activity.
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