Analysis: 116,000 Ether Withdrawn From Exchanges, Raising Prospect of Sharp Price Swings

More than 116,000 Ether has been withdrawn from cryptocurrency exchanges over the past 48 hours, fueling expectations of a major price move.

Crypto analyst Ali Martinez wrote on X on September 6 that more than 116,000 Ether had been withdrawn from exchanges over the previous 48 hours. He said the tokens were worth about $300 million.

When digital assets are moved from exchanges to external wallets, the supply available for immediate sale declines. The market often interprets that as a sign of easing selling pressure.

Martinez said the amount of Ether held on exchanges is shrinking rapidly, creating conditions for a large price swing.