New reports have revealed a massive exodus of Ethereum (ETH) tokens from various crypto exchanges. IntoTheBlock’s on-chain data shows that over $1.4 billion worth of Ethereum has been withdrawn from exchanges. This large-scale ETH outflow marks one of the largest in recent months, signaling a potential shift in investor behavior.
Ethereum Exchanges See Massive Outflows
IntoTheBlock, a crypto analytics platform, that over $1.4 billion worth of Ethereum was recently . This large-scale transfer usually occurs when investors buy a cryptocurrency from an exchange and move it to their private wallets rather than storing it on the centralized exchange.
Considering the sheer amount of ETH involved, investors may be planning to rather than sell them. Data for IntoTheBlock indicates that approximately 74% of for over a year, highlighting a widespread trend amongst investors to retain their assets.
The last time Ethereum exchanges experienced outflows at such a high level was in November 2024. At the time, and were the highlight of the market, experiencing massive gains following in the United States (US) Presidential elections.
In contrast, Ethereum saw less impressive gains, struggling to break through resistance levels to reach new highs. Given and price fluctuations, it would not be surprising if to prevent potential losses. However, the reverse seems to be the case, as these investors are holding on to their assets, possibly banking on a possible price increase in the future.
Confirming the massive ETH outflows from exchanges, CryptoQuant a decrease in overall selling pressure in the Ethereum market. The blockchain analytics platform disclosed that while inflows and outflows have increased slightly, net flows stay negative.
IntoTheBlock also shows that have increased by 43.07% over the past week, while outflows have surged by a whopping 57.35%. Ethereum’s large holder netflow remains negative, decreasing by 26.35% over the past week and 47.60% in the last 30 days.
Interestingly, there have also been severe outflows from , with Wu Blockchain that the total net outflow of these ETFs has increased to $68.47 million.
Analyst Unveils Bearish Ethereum Price Prediction
‘More Crypto Online (MCO), a crypto community on X, has a bleak Ethereum price forecast, projecting a direct decline in line with the third wave of the Elliott Wave theory. According to the analyst, Ethereum will likely remain in its current consolidation phase through the weekend as its Wave 2 unfolds.
The analyst has presented potential targets for the projected decline in Wave 3, with significant levels at 100%, 123.6%, and 138%. If Ethereum experiences a decline to these degrees, its to $2,841, $2,660, and $2,555, respectively.
