{"id":506841,"date":"2022-10-18T23:00:23","date_gmt":"2022-10-18T23:00:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=506841"},"modified":"2024-06-11T08:01:02","modified_gmt":"2024-06-11T08:01:02","slug":"exchange-outflows-shows-bitcoin-ethereum-accumulation-trend-continues","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/exchange-outflows-shows-bitcoin-ethereum-accumulation-trend-continues\/","title":{"rendered":"Exchange Outflows Shows Bitcoin, Ethereum Accumulation Trend Continues"},"content":{"rendered":"

Bitcoin and Ethereum outflows from centralized exchanges have been pointing toward a growing accumulation trend among investors. This saw billions of dollars worth of coins leaving exchanges weekly as investors moved them out. Even now, the exchange outflows have continued despite the recovery in the price of bitcoin and Ethereum, showing that investors are not slowing down their buying.<\/p>\n

Bitcoin, Ethereum Net Flows Still Negative<\/h2>\n

The exchange net flows for the past two weeks have been coming out negative for both Bitcoin and Ethereum. The same has been the case on a daily basis where outflows continue to exceed inflows, leading to negative net flows.<\/p>\n

Related Reading: Whales Across These Five Chains Are Heavy On Stablecoins, Should You Be Too?<\/a><\/div>\n

Data from Glassnode shows that for the last day, the net flows for bitcoin reached as high as $158.5 million. There had been a total of $498 million worth of BTC flowing into exchanges, but more than $656 million had flowed out.<\/p>\n

Ethereum saw a similar net flow trend where $170.7 million flowed into the exchanges and $212.7 million flowed out of the exchanges. This led to a negative net flow of -$42 million over the 24-hour period. On a 7-day rolling basis, ETH net flows had remained negative, but only by a small margin, according to data from IntoTheBlock<\/a>.<\/p>\n

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\ud83d\udcca Daily On-Chain Exchange Flow#Bitcoin<\/a> $BTC<\/a>
\u27a1\ufe0f $498.0M in
\u2b05\ufe0f $656.5M out
\ud83d\udcc9 Net flow: -$158.5M#Ethereum<\/a> $ETH<\/a>
\u27a1\ufe0f $170.7M in
\u2b05\ufe0f $212.7M out
\ud83d\udcc9 Net flow: -$42.0M#Tether<\/a> (ERC20) $USDT<\/a>
\u27a1\ufe0f $361.4M in
\u2b05\ufe0f $283.8M out
\ud83d\udcc8 Net flow: +$77.6Mhttps:\/\/t.co\/dk2HbGwPL4<\/a><\/p>\n

— glassnode alerts (@glassnodealerts) October 18, 2022<\/a><\/p><\/blockquote>\n