Ethereum Exchanges Witness Massive Outflows Following ETH ETF Approval 📉
An analyst and trader in the crypto space highlights significant Ethereum outflows from exchanges after the recent approval of spot ETH exchange-traded funds by the SEC.
- 777,000 ETH worth $3 billion has been withdrawn from crypto exchanges since the ETF approval.
Market Movement 📊
As of the latest data, Ethereum is trading at $3,776, showing a slight decrease in the last 24 hours.
Toncoin Whale Activity Surges 🐋
The analyst also notes a considerable increase in large transactions in Toncoin, indicating a shift in investment strategies by deep-pocketed investors.
- Large Toncoin transactions over $100,000 have surged by 237.5% in the past day.
Bitcoin All-Time High in Sight 🚀
Regarding Bitcoin, the analyst suggests the potential for a new all-time high if the cryptocurrency can breach its diagonal resistance level.
- Bitcoin could rally to $74,400 if it closes above the $69,330 resistance level.
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Hot Take 🔥
A substantial amount of Ethereum has been withdrawn from exchanges post the approval of ETH ETFs by the SEC, hinting at changing market dynamics and investor behavior.
The post $3,000,000,000 in Ethereum Has Left Crypto Exchanges Since SEC Approved Listing of ETH ETFs, Says Analyst appeared first on The Daily Hodl.
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