On-chain data shows exchanges observed Ethereum outflows of over 100k ETH yesterday. Here’s what it may mean for the coin’s price. More than 100,000 Ethereum Exited Exchanges Yesterday As explained by an analyst in a CryptoQuant post, the netflows showed a large negative spike yesterday as more than 100k ETH exited exchange wallets. The “netflow” is an indicator that reveals the net movement of coins moving out of or into exchange wallets. Its value is calculated by taking the difference between the inflows and the outflows. When the metric has positive values, it means there is a net amount of coins moving into exchange wallets. Such a trend may mean investors are bearish on the crypto as they are sending coins from their personal wallets for selling on exchanges. On the other hand, values in the red are seen when investors are withdrawing a net amount of coins. Negative values of the indicator would therefore suggest holders are currently bullish on Ethereum. Related Reading | Ethereum Scarcity: After London Fork, ETH’s Supply Change Drops To Almost Zero Now, here is a chart that shows the trend in the value of the ETH all exchanges netflow over the past fifteen days: Looks like the indicator has recently shown a huge negative spike | Source: CryptoQuant As the above graph shows, around 103k ETH was withdrawn from exchanges yesterday. At current rates, this amount of Ethereum is worth ...
