Summary
- OnChainLens reported that five new wallets withdrew about $700 million worth of Ethereum (ETH) from FalconX.
- FalconX is a prime brokerage service for institutional investors, and large withdrawals can be interpreted as purchases for holding.
- This data suggests the possibility of renewed demand for ETH from institutional investors.
On the 25th (local time), on-chain analytics platform OnChainLens reported that over the past 16 hours five new wallets withdrew a total of 173,654 Ethereum (ETH) from FalconX. This amounts to approximately $700 million.
FalconX is a prime brokerage service for digital assets (cryptocurrencies) targeting institutional investors, and large withdrawals can be interpreted as purchases for holding.
This data suggests the possibility of renewed demand for ETH from institutional investors.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[New York Stock Market Briefing] Rebound on bargain hunting in blue chips…Apple jumps 4%](https://media.bloomingbit.io/PROD/news/3710ded9-1248-489c-ae01-8ba047cfb9a2.webp?w=250)
