{"id":470279,"date":"2021-08-27T19:00:26","date_gmt":"2021-08-27T19:00:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=470279"},"modified":"2021-08-27T13:16:25","modified_gmt":"2021-08-27T13:16:25","slug":"60k-eth-exchanges-bullish-ethereum","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/60k-eth-exchanges-bullish-ethereum\/","title":{"rendered":"60k ETH Exit Exchanges, Here’s Why It’s Bullish For Ethereum"},"content":{"rendered":"

On-chain data shows massive Ethereum outflows of 60k ETH on spot exchanges. Such deeply negative netflows could be a bullish signal for the coin.<\/p>\n

Ethereum All Exchanges Netflow Shows Huge Negative Spike<\/h2>\n

As pointed out by a CryptoQuant post<\/a>, the Ethereum all exchanges netflow showed a negative spike yesterday as 60k ETH exited exchanges.<\/p>\n

The all exchanges netflow<\/a> is an indicator that’s defined as the difference between the exchange inflows and the outflows.<\/p>\n

The “inflow” is the amount of Ethereum moving into exchanges from personal wallets. An increase in this value implies an increase in the supply of ETH for selling purposes or altcoin purchasing.<\/p>\n

The “outflow” is just the opposite; it’s the number of coins exiting exchange wallets. When this metric moves up, it might mean there is a buying pressure in the market as more investors store their coins outside exchanges.<\/p>\n

Related Reading |\u00a0Hoskinson Celebrates Ethereum Smart Contracts On Cardano, How This Company Enables It<\/a><\/strong><\/em><\/p>\n

As the netflow is the inflow minus the outflow, a positive value indicates more ETH is moving into exchanges than out. Similarly, a negative value implies the contrary.<\/p>\n

Now, here is how the chart for the Ethereum all exchanges netflow looks like:<\/p>\n

\"Ethereum<\/p>\n

The Ethereum netflow shows a massive negative spike | Source: CryptoQuant<\/a><\/pre>\n
Looking at the above graph, it seems like the indicator is showing a negative spike at the moment. But what could such a value mean for the price?<\/p>\n
Related Reading |\u00a0TA: Ethereum Faces Hurdles, What Could Trigger Fresh Rally<\/a><\/strong><\/em><\/p>\n
Well, as explained before, when the netflow turns negative, it means the net amount of ETH is directed out of exchanges than in.<\/p>\n
Investors pulling out their coins from exchanges could be because they feel a buying pressure in the market right now. Such a situation might mean there is a bullish sentiment among the market.<\/p>\n
Will There Be An ETH Supply Shock Soon?<\/h2>\n
Some analysts think an Ethereum supply shock might hit soon as massive amounts of the crypto continues to be burnt after the London hardfork<\/a>.<\/p>\n
The ETH exchange reserve, an indicator that shows the total number of coins held on exchanges, is also continuing to decline as outflows dominate the inflows.<\/p>\n
At the time of writing, Ethereum’s price<\/a> floats around $3.1k, down 3% in the last 7 days. The below chart highlights the trends in the price of the cryptocurrency over the past three months.<\/p>\n
\"Ethereum<\/p>\n
After a downtrend, it looks like ETH is now slightly moving up | Source: ETHUSD on TradingView<\/a><\/pre>\n
While the price is going down right now and looks bearish, the demand for Ethereum is only increasing when there isn’t enough supply. This could prove to be quite bullish for the market in the long-term.<\/p>\n
Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows massive Ethereum outflows of 60k ETH on spot exchanges. Such deeply negative netflows could be a bullish signal for the coin. Ethereum All Exchanges Netflow Shows Huge Negative Spike As pointed out by a CryptoQuant post, the Ethereum all exchanges netflow showed a negative spike yesterday as 60k ETH exited exchanges. The all exchanges netflow is an indicator that’s defined as the difference between the exchange inflows and the outflows. The “inflow” is the amount of Ethereum moving into exchanges from personal wallets. An increase in this value implies an increase in the supply of ETH for selling purposes or altcoin purchasing. The “outflow” is just the opposite; it’s the number of coins exiting exchange wallets. When this metric moves up, it might mean there is a buying pressure in the market as more investors store their coins outside exchanges. Related Reading |\u00a0Hoskinson Celebrates Ethereum Smart Contracts On Cardano, How This Company Enables It As the netflow is the inflow minus the outflow, a positive value indicates more ETH is moving into exchanges than out. Similarly, a negative value implies the contrary. Now, here is how the chart for the Ethereum all exchanges netflow looks like: The Ethereum netflow shows a massive negative spike | Source: CryptoQuant Looking at the above graph, it seems like the indicator is showing a negative spike at the moment. But what could such a value mean for the price? Related Reading |\u00a0TA: Ethereum Faces Hurdles, What Could Trigger Fresh Rally Well, as explained before, when the netflow turns negative, it means the net amount of ETH is directed out of exchanges than in. Investors pulling out their coins from exchanges could be because they feel a buying pressure in the market right now. Such a situation might mean there is a bullish sentiment among the market. Will There Be An ETH Supply Shock Soon? Some analysts think an Ethereum supply shock might hit soon as massive amounts of the crypto continues to be burnt after the London hardfork. The ETH exchange reserve, an indicator that shows the total number of coins held on exchanges, is also continuing to decline as outflows dominate the inflows. At the time of writing, Ethereum’s price floats around $3.1k, down 3% in the last 7 days. The below chart highlights the trends in the price of the cryptocurrency over the past three months. After a downtrend, it looks like ETH is now slightly moving up | Source: ETHUSD on TradingView While the price is going down right now and looks bearish, the demand for Ethereum is only increasing when there isn’t enough supply. This could prove to be quite bullish for the market in the long-term. Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":470281,"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":[8323,1946,84133,8686],"class_list":["post-470279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethereum-bullish","tag-ethusd"],"acf":[],"yoast_head":"\n60k ETH Exit Exchanges, Here's Why It's Bullish For Ethereum<\/title>\n<meta name=\"description\" content=\"On-chain data shows massive Ethereum outflows of 60k ETH on spot exchanges. Such deeply negative netflows could be a bullish signal for the coin. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"60k ETH Exit Exchanges, Here’s Why It’s Bullish For Ethereum","url":"http:\/\/ktsl888.com\/news\/ethereum\/60k-eth-exchanges-bullish-ethereum\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/60k-eth-exchanges-bullish-ethereum\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/drawkit-illustrations-8iIUDnRq87o-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/drawkit-illustrations-8iIUDnRq87o-unsplash-scaled.jpg?fit=2560%2C1440"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethereum bullish","ethusd"],"dateCreated":"2021-08-27T19:00:26Z","datePublished":"2021-08-27T19:00:26Z","dateModified":"2021-08-27T19:00:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"60k ETH Exit Exchanges, Here’s Why It’s Bullish For Ethereum\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/60k-eth-exchanges-bullish-ethereum\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/60k-eth-exchanges-bullish-ethereum\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/drawkit-illustrations-8iIUDnRq87o-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/drawkit-illustrations-8iIUDnRq87o-unsplash-scaled.jpg?fit=2560%2C1440\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethereum bullish\",\"ethusd\"],\"dateCreated\":\"2021-08-27T19:00:26Z\",\"datePublished\":\"2021-08-27T19:00:26Z\",\"dateModified\":\"2021-08-27T19:00:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/08\/drawkit-illustrations-8iIUDnRq87o-unsplash-scaled.jpg?fit=2560%2C1440","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/470279"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=470279"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/470279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/470281"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=470279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=470279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=470279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}