According to the data, an outflow of 800,000 Ethereum (ETH) worth $2.4 billion was seen from the exchanges.
Reported by on-chain analysis platform CryptoQuant to data Accordingly, Ethereum outflows from the stock market have accelerated recently. Data from stock exchanges since the beginning of 2024 $2.4 billion worth 800,000 Ethereum revealed that it was coming out.
While the decrease in the supply of a product with limited supply such as Ethereum on the stock exchanges was interpreted as a clear upward signal, its high performance against Bitcoin in recent weeks did not go unnoticed. Making a statement on the subject CryptoQuant The analyst made the following statements:
We can clearly state that this decrease in the Ethereum exchange reserve balance is extremely noticeable and means bullishness, at least for Ethereum.
In particular, expectation whales that the US Securities and Exchange Commission (SEC) will approve the spot Ethereum ETF after the spot Bitcoin exchange-traded funds (ETF) Ethereum It pushed towards directional purchases.
Founder of TORN (TRX) Justin Sun in the last 2 weeks approximately half a billion dollars worth of Ethereum was purchased. However, many different whales have recently come to the fore with their purchases of tens of millions of dollars worth of Ethereum.