Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$95,051.00
0.09%$1,827.17
0.59%$2.15
-0.70%$599.65
2.19%$147.38
1.46%$0.999996
0.01%$0.171647
0.60%$0.667727
-1.44%$0.249094
0.99%$1,824.54
0.51%$95,134.00
0.24%$3.45
5.22%$13.73
-1.43%$19.81
-0.77%$0.260289
-2.17%$8.70
-4.11%$0.999912
-0.00%$2,190.20
0.35%$0.00001282
1.22%$2.98
-1.82%$0.174307
-1.50%$353.87
-0.82%$20.30
1.02%$83.84
-2.25%$3.95
0.41%$1,827.89
0.72%$0.999777
-0.01%$276.90
-0.38%$4.31
-0.57%$1.00
-0.00%$95,076.00
0.08%$0.58935
-0.03%$1,948.83
0.16%$28.63
0.47%$0.000008
-0.86%$377.99
10.25%$5.02
-1.66%$1.05
0.01%$50.91
-0.62%$5.01
-0.34%$1.00
0.00%$2.34
1.06%$0.872245
1.80%$179.73
4.22%$21.15
-1.24%$0.088701
0.70%$0.096806
6.14%$4.63
1.01%$16.09
0.99%$0.717714
-0.80%$29.73
-3.74%$4.40
1.75%$11.26
3.06%$0.0252218
1.05%$0.999587
-0.00%$1.17
0.09%$0.22475
-2.13%$94,756.00
0.11%$4.29
0.24%$4.10
0.50%$2.63
0.17%$0.665194
2.21%$0.201138
0.91%$0.514061
-1.01%$0.271199
-4.65%$4.11
0.71%$2.39
0.21%$0.312636
0.80%$0.999793
0.36%$94,767.00
-0.02%$10.76
0.47%$0.00001717
4.38%$1,558.56
2.10%$1.26
2.32%$0.432686
1.65%$86.17
-3.98%$0.01902647
-4.67%$154.49
1.37%$0.774297
2.47%$0.879621
-4.54%$0.072657
-0.53%$1.14
5.42%$1.70
4.58%$1,827.03
0.68%$0.715384
4.10%$0.651702
-1.02%$0.999897
-0.00%$1,903.34
0.63%$0.202662
-0.40%$3.74
0.58%$0.54685
0.01%$0.701632
2.42%$9.43
1.36%$1.00
0.04%$0.99945
-0.03%$0.092327
2.51%$15.03
4.50%$2,072.59
0.51%$599.67
2.27%$3,339.06
2.68%$3,346.19
2.77%$0.999787
-0.03%$0.205989
-0.55%$190.02
1.42%$95,199.00
0.09%$0.01566828
-0.54%$0.606497
2.44%$0.00007785
4.59%$162.97
1.52%$0.74627
3.84%$2.56
-1.01%$37.46
1.04%$94,791.00
-0.35%$93,797.00
-0.77%$0.791078
-0.81%$0.700885
3.53%$0.00000071
-3.72%$0.01103647
6.00%$3.80
0.83%$1,946.68
0.66%$0.01541651
1.40%$0.276995
0.75%$0.113049
0.59%$0.998992
0.11%$1.99
3.41%$0.998328
-0.00%$2.97
-9.98%$0.378542
2.47%$1.11
0.38%$17.87
-0.05%$36.93
4.47%$1,911.71
0.29%$0.5424
0.59%$0.30082
4.09%$0.554202
1.95%$0.999948
0.00%$0.01618496
-3.27%$3.26
1.53%$1.62
1.48%$0.052709
-1.19%$0.138629
1.93%$0.00544177
-1.54%$0.00874659
2.17%$0.999101
0.05%$95,971.00
-0.22%$0.603476
-4.48%$1,912.92
0.70%$0.52095
1.58%$0.067772
5.66%$0.409991
4.99%$95,071.00
0.24%$0.190999
2.12%$0.433066
-1.89%$0.999995
0.01%$7.09
-1.24%$110.94
0.02%$0.585252
0.78%$95,141.00
0.38%$1.26
0.81%$15.62
0.23%$0.17198
0.91%$89,088.00
-0.08%$0.00002158
2.05%$1.70
19.17%$0.166942
-2.62%$0.00000042
0.51%$1,827.68
0.82%$1.085
-0.01%$5.76
3.52%$0.130781
0.19%$1.00
0.06%$0.00759881
5.28%$1,826.29
0.62%$0.489645
0.99%$1,945.95
0.55%$0.00563138
2.26%$1.41
-2.36%$0.401545
2.99%$0.03969334
2.02%$0.387529
5.47%$2.34
0.77%$0.14319
8.76%$1,827.89
0.64%$0.072294
0.83%$0.224891
-2.06%$1.39
2.90%$1,826.18
0.72%$0.078357
-0.26%$21.80
0.03%$32.35
-2.01%$0.176552
0.58%$2.96
2.92%$1.002
0.29%$39.33
-0.80%$0.03538553
-0.12%$0.01805849
0.42%$0.00403982
1.77%$0.355135
1.08%$1,874.93
1.49%$1.00
0.00%$0.00005963
2.03%$1.002
0.41%$0.772978
-0.68%$0.999427
0.04%$0.999873
0.15%$0.500097
-5.88%$0.679397
2.59%$94,998.00
0.22%$0.672057
-0.84%$0.27188
7.34%$0.294588
1.19%$0.00000145
-7.08%$1,821.44
0.67%$20.38
1.19%$109.79
-0.51%$3,321.85
2.37%$0.22627
3.05%$2.49
2.32%$0.133602
-0.84%$94,727.00
0.20%$19.82
-0.74%$0.196968
1.86%$0.999849
0.05%$0.00268776
-1.55%$21.90
-0.59%$1.098
0.04%$1,930.31
-0.08%$2.81
-0.32%$0.262821
0.74%$0.452573
2.98%$0.524635
1.00%$0.03090343
5.66%$0.03642911
0.93%$2,007.50
0.70%$1.52
2.44%$1,908.61
0.03%$3.00
1.13%$0.99957
0.11%$0.999489
0.00%$0.00273306
1.50%$14.68
1.46%$1,990.44
0.60%$1,826.87
0.68%$0.01217487
2.59%$94,076.00
-0.97%$1.00
0.03%$0.00000059
3.94%$0.086462
2.97%Reading
More than $500 million worth of EthereumEthereum was withdrawn from cryptocurrency exchanges earlier this week, as traders look to hold on to their crypto in anticipation of bullish price action.
This is according to data shared by IntoTheBlock, a crypto market research firm, which shows that 180,000 ETH was withdrawn from exchanges on Tuesday. This figure represents the highest aggregated exchange withdrawal of ETH since October, the firm tweeted. At the time, the outflow of ETH preceded a 15% price increase for the cryptocurrency within 10 days.
Likewise, ETH’s price has also been up following the recent massive outflow. Trading at approximately $2,500 on March 15, ETH has since surged to $2,934 at the time of writing.
That’s a 17% increase over the week, making Ethereum the only top 10 crypto by market cap to see double-digit percentage gains besides Avalanche (AVAX).
Data from Chainalysis, a blockchain data platform, appears to corroborate IntoTheBlock’s analysis. It estimates that up to 352,317 ETH could have left exchanges on the same day, though the firm provides a very wide range for its data set. It’s worth noting, however, that Chainalysis has not estimated an outflow this large in at least six months.
According to the firm, such outflows would be considered a bullish market indicator. “Assets held on exchanges increase if more market participants want to sell than to buy, and if buyers choose to store their assets on exchanges,” it wrote.
Of course, ETH’s gains in the context of the wider crypto market cannot be ignored. Every top 10 coin, besides Terra, has seen a price increase of at least 5% this week, particularly after the Federal Reserve announced a 25 basis point interest rate hike on Wednesday. BitcoinBitcoin, in particular, is up 8%. Bitcoin also saw a possible 39,000 BTC exchange outflow on Friday, amounting to about $1.6 billion.
IntoTheBlock also noted that about 190,000 ETH was deposited for staking using Lido, a service that lets users stake various assets on other chains, including Ethereum 2.0—the coming upgrade to Ethereum. The ETH 2.0 deposit contract now has over 10,000,000 ETH staked on it, amounting to over $27 billion in staked value.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Decentralized oracle network Chainlink unveiled a new incentive system Monday called Chainlink Rewards, which is designed to provide ecosystem tokens from projects in its Build program to ecosystem participants and stakers of the LINK token. The program’s first launch is through a collaboration with infrastructure firm Space and Time, a member of Chainlink Build that will provide 4% of the supply of its SXT token to eligible LINK stakers. “The Season Genesis pilot is an experiment, informing ho...
A Dubai family office managing assets for Qatari royal Sheikh Nayef bin Eid Al Thani will finance a $8.8 billion blockchain and digital assets project in the Maldives. The deal, led by MBS Global Investments, seeks to diversify the island archipelago nation’s economy, which is mainly dependent on tourism and fishing, amid rising external debt obligations, according to a Sunday report by the Financial Times. The investment, scheduled to roll out over five years, exceeds the country’s entire GDP,...
Actor and noted crypto critic Ben McKenzie is set to make his directorial debut at SXSW London with the June premiere of his documentary, “Everyone Is Lying to You for Money,” according to a report by Deadline. The documentary follows McKenzie—best known for roles on "The O.C." and "Gotham"—as he investigates the cryptocurrency world and interviews key figures, including during a trip to El Salvador to examine President Nayib Bukele's regime, which made Bitcoin legal tender in 2021. “When I star...