Ethereum has recently seen a large exchange outflow, with 110,000 ETH (worth around $181 million) being withdrawn from centralized exchanges. This is the largest outflow since August 21st and the lowest supply on exchanges since May 2018. The outflow could be a sign of buying activity in the market, as investors take their coins off exchanges and into self-custodial wallets. The supply outside of exchanges has been on a perpetual uptrend, due to the new ETH being minted in the form of validator rewards. Ethereum has been consolidating near the $1,600 level since its pullback from the recent surge above the $1,700 mark.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | None |
| Companies | HODLing, Santiment, Supply on Exchanges, TradingView, ETHUSD, ETH, Unsplash.com, Supply Outside of Exchanges, Validator Rewards |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
