{"id":599274,"date":"2024-03-23T17:30:11","date_gmt":"2024-03-23T17:30:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=599274"},"modified":"2024-03-23T14:53:57","modified_gmt":"2024-03-23T14:53:57","slug":"march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening\/","title":{"rendered":"March Sees Nearly $1 Billion In Ethereum Netflow To Centralized Exchanges – What\u2019s Happening?"},"content":{"rendered":"

The price of Ethereum<\/a> has not exactly lived up to its promise as the month has gone on, despite a stellar start to the month. While this bearish pressure has been widespread in the general cryptocurrency market, regulation uncertainty has been an additional concern for ETH, igniting a negative sentiment around the \u201cking of altcoins.\u201d<\/span><\/p>\n

Interestingly, the latest on-chain revelation shows a substantial amount of Ethereum has made its way to exchanges so far in March, suggesting that investors might be losing confidence in the long-term promise of the cryptocurrency<\/a>.<\/span><\/p>\n

Are Investors Losing Confidence In Ethereum?<\/span><\/h2>\n

According to data from CryptoQuant, more than $913 million has been recorded in net ETH transfers to centralized exchanges so far in March. This on-chain information was revealed via a quicktake post<\/a> on the data analytics platform.<\/span><\/p>\n

This net fund movement represents the largest volume of Ethereum transferred to centralized exchanges in a single month since June 2022. Even though March is still a week from being over, this exchange inflow appears to be a complete deviation from the pattern observed over the past few months.<\/span><\/p>\n

\"Ethereum<\/p>\n

Chart showing total monthly netflow of ETH on centralized exchanges | Sources: CryptoQuant<\/a><\/pre>\n
Related Reading: Dogecoin Whales Go On Massive Buying Spree, Here\u2019s How Much They\u2019ve Bought<\/a><\/div>\n
As shown in the chart above, October 2023 was the last time cryptocurrency exchanges witnessed a positive net flow. It is worth noting that there was significant movement of Ethereum tokens out of the centralized platforms in subsequent months up until this month.<\/span><\/p>\n
Meanwhile, a separate data point that supports the massive exodus of ETH to centralized exchanges has come to light. Popular crypto analyst Ali Martinez <\/span>revealed on X<\/span><\/a> nearly 420,000 Ethereum tokens (equivalent to $1.47 billion) have been transferred to cryptocurrency exchanges in the past three weeks.<\/span><\/p>\n
The flow of large amounts of cryptocurrency to centralized exchanges<\/a> is often considered a bearish sign, as it can be an indication that investors may be willing to sell their assets. Ultimately, this can put downward pressure on the cryptocurrency\u2019s price.<\/span><\/p>\n
Substantial fund movements to trading platforms could also represent a shift in investor sentiment. It could be a sign that investors are losing faith in a particular asset (ETH, in this case).<\/span><\/p>\n
Moreover, the recent regulatory headwind surrounding Ethereum specifically accentuates this hypothesis.\u00a0 According to the latest report<\/a>, the United States Securities and Exchange Commission is considering a probe to classify the ETH token as a security.<\/span><\/p>\n
ETH Price<\/span><\/h2>\n
As of this writing, the Ethereum token<\/a> is valued at $3,343, reflecting a 4% price decline over the past \/4 hours. According to data from CoinGecko, ETH is down by 11% in the past week.<\/span><\/p>\n
Related Reading: Bernstein Analysts Says Bitcoin Will Reach A New ATH By Year End, Here\u2019s The Target<\/a><\/div>\n
\"Ethereum\"<\/p>\n
Ethereum loses the $3,400 level again on the daily timeframe | Source: ETHUSDT chart on TradingView<\/a><\/pre>\n
Featured image from Unsplash, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"
The price of Ethereum has not exactly lived up to its promise as the month has gone on, despite a stellar start to the month. While this bearish pressure has been widespread in the general cryptocurrency market, regulation uncertainty has been an additional concern for ETH, igniting a negative sentiment around the \u201cking of altcoins.\u201d Interestingly, the latest on-chain revelation shows a substantial amount of Ethereum has made its way to exchanges so far in March, suggesting that investors might be losing confidence in the long-term promise of the cryptocurrency. Are Investors Losing Confidence In Ethereum? According to data from CryptoQuant, more than $913 million has been recorded in net ETH transfers to centralized exchanges so far in March. This on-chain information was revealed via a quicktake post on the data analytics platform. This net fund movement represents the largest volume of Ethereum transferred to centralized exchanges in a single month since June 2022. Even though March is still a week from being over, this exchange inflow appears to be a complete deviation from the pattern observed over the past few months. Chart showing total monthly netflow of ETH on centralized exchanges | Sources: CryptoQuant Related Reading: Dogecoin Whales Go On Massive Buying Spree, Here\u2019s How Much They\u2019ve Bought As shown in the chart above, October 2023 was the last time cryptocurrency exchanges witnessed a positive net flow. It is worth noting that there was significant movement of Ethereum tokens out of the centralized platforms in subsequent months up until this month. Meanwhile, a separate data point that supports the massive exodus of ETH to centralized exchanges has come to light. Popular crypto analyst Ali Martinez revealed on X nearly 420,000 Ethereum tokens (equivalent to $1.47 billion) have been transferred to cryptocurrency exchanges in the past three weeks. The flow of large amounts of cryptocurrency to centralized exchanges is often considered a bearish sign, as it can be an indication that investors may be willing to sell their assets. Ultimately, this can put downward pressure on the cryptocurrency\u2019s price. Substantial fund movements to trading platforms could also represent a shift in investor sentiment. It could be a sign that investors are losing faith in a particular asset (ETH, in this case). Moreover, the recent regulatory headwind surrounding Ethereum specifically accentuates this hypothesis.\u00a0 According to the latest report, the United States Securities and Exchange Commission is considering a probe to classify the ETH token as a security. ETH Price As of this writing, the Ethereum token is valued at $3,343, reflecting a 4% price decline over the past \/4 hours. According to data from CoinGecko, ETH is down by 11% in the past week. Related Reading: Bernstein Analysts Says Bitcoin Will Reach A New ATH By Year End, Here\u2019s The Target Ethereum loses the $3,400 level again on the daily timeframe | Source: ETHUSDT chart on TradingView Featured image from Unsplash, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":550660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[83531,8323,1946,6931,78803],"class_list":["post-599274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-cryptoquant","tag-eth","tag-ethereum","tag-ethereum-price","tag-ethusdt"],"acf":[],"yoast_head":"\nMarch Sees Nearly $1 Billion In Ethereum Netflow To Centralized Exchanges - What\u2019s Happening?<\/title>\n<meta name=\"description\" content=\"The price of Ethereum has not exactly lived up to its promise as the month has gone on, despite a stellar start to the month.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ethereum\/march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"March Sees Nearly $1 Billion In Ethereum Netflow To Centralized Exchanges - 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/uniquehot.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"March Sees Nearly $1 Billion In Ethereum Netflow To Centralized Exchanges – What\u2019s Happening?","url":"http:\/\/uniquehot.com\/news\/ethereum\/march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/photo-67-70fb467846ae.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/photo-67-70fb467846ae.jpeg?fit=1000%2C667"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cryptoquant","eth","ethereum","ethereum price","ethusdt"],"dateCreated":"2024-03-23T17:30:11Z","datePublished":"2024-03-23T17:30:11Z","dateModified":"2024-03-23T17:30:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"March Sees Nearly $1 Billion In Ethereum Netflow To Centralized Exchanges – What\\u2019s Happening?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/march-sees-nearly-1-billion-in-ethereum-netflow-to-centralized-exchanges-whats-happening\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/photo-67-70fb467846ae.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/photo-67-70fb467846ae.jpeg?fit=1000%2C667\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cryptoquant\",\"eth\",\"ethereum\",\"ethereum price\",\"ethusdt\"],\"dateCreated\":\"2024-03-23T17:30:11Z\",\"datePublished\":\"2024-03-23T17:30:11Z\",\"dateModified\":\"2024-03-23T17:30:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/photo-67-70fb467846ae.jpeg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/599274"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=599274"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/599274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/550660"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=599274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=599274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=599274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}