Analysis: 140,000 Ether Leave Exchanges in Four Days, Easing Selling Pressure
Summary
- An analysis said about 140,000 ETH has left exchanges over the past four days, easing selling pressure.
- The ETH withdrawn was worth about $350 million, signaling that investors are increasingly inclined to hold.
- The analysis said the decline in ETH available on exchanges is reducing potential selling pressure and supporting the possibility of a bullish breakout.
About 140,000 Ether has left exchanges over the past four days, easing selling pressure, according to market analysis.
Crypto analyst Ali Martinez wrote on X on September 14 that about 140,000 ETH had been withdrawn from exchanges over the previous 96 hours. The outflow was worth about $350 million.
Martinez interpreted the large exchange outflows as a sign that investors are becoming more inclined to hold. When crypto assets move from exchanges to external wallets, the amount immediately available for sale generally declines.
"Investors are increasingly choosing to hold rather than trade," Martinez wrote. "As the amount of ETH available on exchanges falls, potential selling pressure is also easing, supporting the possibility of a bullish breakout."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.