【Binance’s ETH is being withdrawn, and the pace hits a 3-year high 😱🚀】
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These data are quite interesting. On Binance, ETH is being pulled out piece by piece. The monthly average number of withdrawal transactions has already broken 90,000. That’s the highest level in three years. At the beginning of the year, it was only half of what it is now. This change came rather suddenly.📤
What does “withdrawal” mean? It means it’s not staying on the exchange. The ETH is moved to one’s own wallet or a custodian. Such actions generally suggest people want to hold for longer. If you’re the one holding the coins, you’re not in a hurry to sell. They don’t bother watching short-term price swings either.💎
Now look at the price: ETH has been quite strong these past few days. It’s up 6% in 24 hours, and has broken above $2,700. Three months ago, it climbed from $1,510. By calculation, it’s risen by about 80%. Bitcoin is still struggling, unable to hold the May high. But this round of Ethereum is, in contrast, tougher.⚡
However, on the other side, the picture is completely different. In the U.S., Ethereum ETFs saw heavy outflows last week. On Wednesday alone, $224 million left. Tuesday also saw $141 million outflows. By Thursday, another $39.2 million went out. Monday and Friday returned some money, but it wasn’t enough to fill the hole.📉
Why is this worth discussing? Because withdrawal data is seen as a “hoarding” signal. If exchange balances shrink, there are fewer sellable chips to pressure the market. People even look back at history: after big waves of withdrawals, rallies often follow. Of course, that’s just one interpretation. Good data doesn’t automatically mean the price will rise tomorrow.🧠
What’s even more coincidental is that while ETFs are withdrawing money, on-chain activity shows people are hoarding coins. One side is selling, the other is buying—completely opposite directions. Some say this is retail investors handing their chips to big players. Others say it’s big players quietly building positions. The same batch of data can lead two groups of people to opposite conclusions. Who’s right can only be answered by time.🤔
📌 When coins are moved off exchanges, it’s often when nobody’s paying attention
Are the coins you hold on the exchange, or in your own wallet?
Group chat: 📲 加入X先生的粉丝群聊
These data are quite interesting. On Binance, ETH is being pulled out piece by piece. The monthly average number of withdrawal transactions has already broken 90,000. That’s the highest level in three years. At the beginning of the year, it was only half of what it is now. This change came rather suddenly.📤
What does “withdrawal” mean? It means it’s not staying on the exchange. The ETH is moved to one’s own wallet or a custodian. Such actions generally suggest people want to hold for longer. If you’re the one holding the coins, you’re not in a hurry to sell. They don’t bother watching short-term price swings either.💎
Now look at the price: ETH has been quite strong these past few days. It’s up 6% in 24 hours, and has broken above $2,700. Three months ago, it climbed from $1,510. By calculation, it’s risen by about 80%. Bitcoin is still struggling, unable to hold the May high. But this round of Ethereum is, in contrast, tougher.⚡
However, on the other side, the picture is completely different. In the U.S., Ethereum ETFs saw heavy outflows last week. On Wednesday alone, $224 million left. Tuesday also saw $141 million outflows. By Thursday, another $39.2 million went out. Monday and Friday returned some money, but it wasn’t enough to fill the hole.📉
Why is this worth discussing? Because withdrawal data is seen as a “hoarding” signal. If exchange balances shrink, there are fewer sellable chips to pressure the market. People even look back at history: after big waves of withdrawals, rallies often follow. Of course, that’s just one interpretation. Good data doesn’t automatically mean the price will rise tomorrow.🧠
What’s even more coincidental is that while ETFs are withdrawing money, on-chain activity shows people are hoarding coins. One side is selling, the other is buying—completely opposite directions. Some say this is retail investors handing their chips to big players. Others say it’s big players quietly building positions. The same batch of data can lead two groups of people to opposite conclusions. Who’s right can only be answered by time.🤔
📌 When coins are moved off exchanges, it’s often when nobody’s paying attention
Are the coins you hold on the exchange, or in your own wallet?
