Data from IntoTheBlock revealed that investors withdrew approximately half a billion ETH from centralized exchanges last week, the highest the asset has seen since February.
$500M ETH Leaves CEXs
The withdrawal of large amounts of ETH from centralized exchanges signals investor confidence in the long-term price trajectory of the asset. Market participants usually withdraw their cryptocurrencies from centralized trading platforms to hold the assets in their private wallets or cold storage in anticipation of higher prices.
Such large withdrawals have been considered an indicator of bullish sentiment and holding attitude among investors. Most of the time, ETH has recorded substantial gains in the weeks following large withdrawals from exchanges.
Anticipation for higher ETH prices could be attributed to the approval of spot Ethereum exchange-traded funds (ETFs) in Hong Kong and the just-completed Bitcoin halving event, which has historically triggered bull rallies across the market.
With h
We współpracy z: https://cryptopotato.com/over-500m-ethereum-eth-left-cexs-as-market-prepares-for-impulsive-move-data/
