Ethereum Sees Significant Exchange Inflows and ETF Activity: Is a New All-Time High on the Horizon?
The post Ethereum Sees Significant Exchange Inflows and ETF Activity: Is a New All-Time High on the Horizon? appeared on BitcoinEthereumNews.com.
The second-largest cryptocurrency by market capitalization, Ethereum, has been producing some market excitement lately, thanks to a major transfer of over 170,000 ETH to crypto exchanges in just the past 72 hours. 🤔 When will Ethereum break its $4,878 all-time high market value, established back on November 10, 2021? 🎯 Current $ETH market value: $3,240 (-33.6% below ATH) — Santiment (@santimentfeed) January 22, 2025 On-chain data from Santiment indicates that this amount—over 170k ETH—has a value exceeding $544 million. And while the still-water current price of Ethereum is $3,240 (33.6 percent off its all-time high of $4,878 from November 10, 2021), recent market action indicates an uptick of investor hope. Over 170,000 #Ethereum $ETH, valued at more than $544 million, have been transferred to crypto exchanges in the past 72 hours, as shown by on-chain data from @santimentfeed. pic.twitter.com/QKOvkl56lh — Ali (@ali_charts) January 23, 2025 Boosting the momentum, Ethereum spot exchange-traded funds (ETFs) have realized steady net inflows for six straight days now. On January 22 alone, they netted $70.64 million, with big help from BlackRock’s ETF ETHA and Fidelity’s ETF FETH. Exchange Inflows: What It Means for Ethereum The movement of 170,000 ETH to exchanges is an essential phenomenon in the Ethereum market. When we see an uptick in transferring funds to exchanges, this is usually taken as a very bearish signal. People are taking their crypto and moving it onto exchanges to sell it. But what if the devs are the ones doing it? What if they are moving a ton of ETH to exchanges and making these look like bearish signals to cover up some very bullish, secret moves they are making? These inflows coincide with increasing institutional interest in Ethereum, as evident from the activities surrounding Ethereum spot ETFs. The very nature of ETF inflows suggests…
Filed under: News - @ January 24, 2025 1:24 pm