Cryptocurrency market research firm IntoTheBlock has just revealed that more than $500 billion worth in Ethereum (ETH) have been pulled out from major crypto exchanges in the past 72 hours.
According to the firm’s data, the year’s largest outflow consisting of 180,000 ETH with an average price of $2,750 occurred on Tuesday, a figure that also represents Ether’s greatest aggregated exchange outflow since October.
IntoTheBlock explains that the occurrence, which also includes 190,000 ETH deposited into Lido platform’s Ether liquid staking, is a bullish sign for the price of ETH given that when such outflows have taken place in the past, the crypto has jumped by 15% in 10 days.
According to the firm’s data, the year’s largest outflow consisting of 180,000 ETH with an average price of $2,750 occurred on Tuesday, a figure that also represents Ether’s greatest aggregated exchange outflow since October.
IntoTheBlock explains that the occurrence, which also includes 190,000 ETH deposited into Lido platform’s Ether liquid staking, is a bullish sign for the price of ETH given that when such outflows have taken place in the past, the crypto has jumped by 15% in 10 days.