The post Ethereum Set to Surge? 224K ETH Off-Exchanges Boost Confidence! appeared on BitcoinEthereumNews.com.

Ethereum, the second-largest cryptocurrency by market cap, has seen a sharp 36% drop over the past seven weeks. This decline has sparked concern among investors and traders, as fewer ETH holders are now in profit. The negative sentiment is causing many retail traders to sell off their tokens, and with Ethereum underperforming compared to other major cryptocurrencies, questions are rising about its ability to recover.  However the scene is changing, in the downtrend, Ethereum has experienced a historic event that could shape its price journey in 2025. Between February 8 and 9, around 224,410 ETH were moved off exchanges—marking the largest single-day net outflow in nearly two years, as reported by Santiment. This change in investor behavior suggests growing confidence in Ethereum’s long-term value. 😯 There was a historic milestone of ~224,410 ETH moving away from exchanges in the 24 hours between February 8th and 9th. This was the most amount of net coins moving off of known exchange wallets in a single day in 23 months. Though more of a long-term metric, this is a… pic.twitter.com/G2e2AausPh — Santiment (@santimentfeed) February 11, 2025 What Does This Mean for Ethereum? When large amounts of crypto are moved off exchanges, it’s usually seen as a bullish sign. Investors tend to shift their assets to personal wallets when they plan to hold onto them for the long term, reducing the supply available for trading. This creates less selling pressure, which can support price increases. At the time of this outflow, ETH was priced around $2,850, and it quickly responded with a 3.5% jump, reaching $2,950 within 24 hours. Meanwhile, Ethereum’s trading volume on major exchanges like Binance hit 1.2 million ETH, with a total volume across all platforms reaching $3.4 billion. This outflow also coincided with Bitcoin seeing similar behavior, as 10,000 BTC…

---

Filed under: News - @ February 11, 2025 8:22 am