{"id":605261,"date":"2024-04-26T17:00:21","date_gmt":"2024-04-26T17:00:21","guid":{"rendered":"https:\/\/uniquehot.com\/?p=605261"},"modified":"2024-04-26T13:27:05","modified_gmt":"2024-04-26T13:27:05","slug":"ethereum-exchanges-260000-eth","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-exchanges-260000-eth\/","title":{"rendered":"Ethereum Withdrawals From Exchanges Top 260,000 ETH &#8211; What This Means For Price"},"content":{"rendered":"<p class=\"p2\">Ethereum withdraws from centralized exchanges have ramped up over the last week, suggesting a direction for investor sentiment during this time. Given the sheer volume of <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-faces-test-3200\/\">ETH<\/a> withdrawn from these exchanges, it is prudent to try to understand what this could mean for the crypto\u2019s price.<\/p>\n<h2 class=\"p2\">260,000 ETH Leaves Exchanges<\/h2>\n<p class=\"p2\">Amid the uncertainty that has plagued the crypto market, <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/sec-anticipated-to-reject-spot-ethereum-etfs-in-upcoming-decision-eth-price-takes-5-hit\/\">Ethereum investors<\/a> are making moves to secure their positions for better price prospects. Pseudonymous crypto technical analyst Titan of Crypto took to X (formerly Twitter) to share what Ethereum investors are doing about their holdings right.<\/p>\n<p>Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-bears-losing-7-2-billion\/\">Bitcoin Bears Risk Losing $7.2 Billion If BTC Price Reaches This Level<\/a><\/p>\n<p class=\"p2\">The post revealed that these investors have been withdrawing large amounts of <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-justin-sun-127388-eth\/\">ETH<\/a> from centralized exchanges. In the one week period that was tracked, the report found that a total of 260,000 <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-reversal-3400\/\">ETH<\/a> were withdrawn from exchanges, which was worth almost $800 million at the time.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Altcoins<\/a><\/p>\n<p>Crypto exchanges witnessed an outflow of over 260,000 <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#ETH<\/a> equivalent to more than $781 million within the past 7 days.<\/p>\n<p>It\u2019s time for <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Ethereum<\/a> shine. \u2728\ud83c\udf15 <a href=\"https:\/\/t.co\/jT1aocjvbI\" rel=\"nofollow\">pic.twitter.com\/jT1aocjvbI<\/a><\/p>\n<p>\u2014 Titan of Crypto (@Washigorira) <a href=\"https:\/\/twitter.com\/Washigorira\/status\/71500886?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 24, 2024<\/a><\/p><\/blockquote>\n<p class=\"p2\">Now, exchange deposits and withdrawals are important for any cryptocurrency because it can often tell how investors are looking at that coin and what they are doing with their holdings. In the case of large deposits to centralized exchanges, it can be very bearish for the price because investors often deposit their coins in order to sell them as exchanges provide deep liquidity.<\/p>\n<p class=\"p2\">In contrast, withdrawals from exchanges suggest that investors are not looking to sell their <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-holds-support-3000\/\">ETH<\/a>. Rather, they are accumulating the coins to wait for better prices before selling. Naturally, this is bullish for the Ethereum price as a diminished selling pressure gives room for the price to recover.<\/p>\n<p class=\"p2\">In this case, the withdrawals are bullish or the Ethereum price, as investors continue to accumulate. It also signals that investors are expecting a price breakout, and as the withdrawals ramp up, demand could surpass supply, leading to a surge in price.<\/p>\n<h2 class=\"p2\">Ethereum Headwinds Still Negative<\/h2>\n<p class=\"p2\">Ethereum, while currently seeing some positive activity from investors, has still not turned completely bullish. For one, there has been a significant decline in its daily trading volume. According to <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" rel=\"nofollow\">data<\/a> from Coinmarketcap, <a href=\"https:\/\/uniquehot.com\/news\/ethereum-on-chain-health-holds-strong-amidst-open-interest-plunge-impact-on-price\/\">Ethereum\u2019s trading volume<\/a> is down approximately 20% in the last day.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/if-bitcoin-cant-hold-60000\/\">Renowned Economist Reveals What Will Happen If Bitcoin Can\u2019t Hold $60,000<\/a><\/div>\n<p class=\"p2\">This decline in volume suggests a declining interest from investors to actually trade the coin. As such, its price may be negatively affected as attention begins to shift elsewhere, with investors looking for better prospects.<\/p>\n<p class=\"p2\">Nevertheless, the cryptocurrency still looks bullish for the long term. <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-faces-rejection-3280\/\">Ethereum continues to closely mirror the price performance of Bitcoin<\/a>, which is expected to go on a bull run following the successful completion of its fourth halving event.<\/p>\n<p class=\"p2\">For now, Ethereum continues to struggle to hold above $3,100 with small gains of 0.18% in the last day. Over the last month, it has suffered multiple crashes, registering a 12.36% loss in the last 30 days.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/BtsJvBt8\/\" alt=\"Ethereum price chart from Tradingview.com\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">ETH price struggles to hold $3,100 support | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ETHUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Investopedia, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum withdraws from centralized exchanges have ramped up over the last week, suggesting a direction for investor sentiment during this time. Given the sheer volume of ETH withdrawn from these exchanges, it is prudent to try to understand what this could mean for the crypto\u2019s price. 260,000 ETH Leaves Exchanges Amid the uncertainty that has plagued the crypto market, Ethereum investors are making moves to secure their positions for better price prospects. Pseudonymous crypto technical analyst Titan of Crypto took to X (formerly Twitter) to share what Ethereum investors are doing about their holdings right. Related Reading: Bitcoin Bears Risk Losing $7.2 Billion If BTC Price Reaches This Level The post revealed that these investors have been withdrawing large amounts of ETH from centralized exchanges. In the one week period that was tracked, the report found that a total of 260,000 ETH were withdrawn from exchanges, which was worth almost $800 million at the time. #Altcoins Crypto exchanges witnessed an outflow of over 260,000 #ETH equivalent to more than $781 million within the past 7 days. It\u2019s time for #Ethereum shine. \u2728\ud83c\udf15 pic.twitter.com\/jT1aocjvbI \u2014 Titan of Crypto (@Washigorira) April 24, 2024 Now, exchange deposits and withdrawals are important for any cryptocurrency because it can often tell how investors are looking at that coin and what they are doing with their holdings. In the case of large deposits to centralized exchanges, it can be very bearish for the price because investors often deposit their coins in order to sell them as exchanges provide deep liquidity. In contrast, withdrawals from exchanges suggest that investors are not looking to sell their ETH. Rather, they are accumulating the coins to wait for better prices before selling. Naturally, this is bullish for the Ethereum price as a diminished selling pressure gives room for the price to recover. In this case, the withdrawals are bullish or the Ethereum price, as investors continue to accumulate. It also signals that investors are expecting a price breakout, and as the withdrawals ramp up, demand could surpass supply, leading to a surge in price. Ethereum Headwinds Still Negative Ethereum, while currently seeing some positive activity from investors, has still not turned completely bullish. For one, there has been a significant decline in its daily trading volume. According to data from Coinmarketcap, Ethereum\u2019s trading volume is down approximately 20% in the last day. Related Reading: Renowned Economist Reveals What Will Happen If Bitcoin Can\u2019t Hold $60,000 This decline in volume suggests a declining interest from investors to actually trade the coin. As such, its price may be negatively affected as attention begins to shift elsewhere, with investors looking for better prospects. Nevertheless, the cryptocurrency still looks bullish for the long term. Ethereum continues to closely mirror the price performance of Bitcoin, which is expected to go on a bull run following the successful completion of its fourth halving event. For now, Ethereum continues to struggle to hold above $3,100 with small gains of 0.18% in the last day. Over the last month, it has suffered multiple crashes, registering a 12.36% loss in the last 30 days. ETH price struggles to hold $3,100 support | Source: ETHUSD on Tradingview.com Featured image from Investopedia, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":605305,"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":[8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-605261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Withdrawals From Exchanges Top 260,000 ETH - What This Means For Price<\/title>\n<meta name=\"description\" content=\"Ethereum withdraws from centralized exchanges have ramped up over the last week, suggesting a direction for investor sentiment.\" \/>\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\/ethereum-exchanges-260000-eth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Withdrawals From Exchanges Top 260,000 ETH - What This Means For Price\" \/>\n<meta property=\"og:description\" content=\"Ethereum withdraws from centralized exchanges have ramped up over the last week, suggesting a direction for investor sentiment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-exchanges-260000-eth\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-26T17:00:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-26T13:27:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Ethereum.jpeg?fit=275%2C183\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Matherson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/MathersonScott\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Matherson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-exchanges-260000-eth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-exchanges-260000-eth\/\"},\"author\":{\"name\":\"Scott Matherson\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d\"},\"headline\":\"Ethereum Withdrawals From Exchanges Top 260,000 ETH &#8211; 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