Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
holders are sending assets to crypto exchanges at the fastest pace in almost four months following the crypto's rally on increasing anticipation of a U.S. spot exchange-traded fund approval.shows Tuesday net inflows to exchanges reached 81,840 ETH worth roughly $306 million at current prices, the highest amount in a day since January 23.
Tuesday was also the third day in a row of inflows, marking a break from the general trend of decreasing ETH balance on exchanges, Nansen data shows. The last time ETH experienced consecutive days of inflows to exchanges was in March, near this year's peak in crypto prices.Moving assets to exchanges usually signal intention to sell, while traders normally withdraw tokens from platforms if they want to hold onto the purchases for a longer term.
"My sense is individuals are capturing a quick 30% price increase that occurred in less than 24 hours," Shuttleworth said in a direct message on X. The rally happened as odds for a U.S. regulatory nod for spot ETH ETFs jumped almost overnight with regulators asking issuers to update their applications after months of lack of engagement.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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