Analysis: Ethereum exchange withdrawal volume hits 3-year high, investors may continue accumulating ETH
55 minutes ago
CryptoQuant analyst Darkfost wrote that over the past three months, Ethereum (ETH) prices have surged from $1,510 to $2,650, a rise of over 75% that has broken through April’s highs. In comparison, Bitcoin (BTC) has yet to sustainably hold above its May highs, putting ETH’s price trend temporarily ahead. Darkfost pointed out that ETH withdrawal volume on Binance has recently reached a three-year high, with monthly average ETH withdrawal transactions just crossing 90,000 — a level not seen since 2023, roughly double the figure at the start of this year. Large volumes of ETH being moved out of exchanges like Binance typically signal investors transferring the asset to private custody after purchasing it, a move often linked to long-term holding and accumulation strategies. Currently, this accumulation trend is far more prominent for ETH than for BTC.
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