$210 million worth of ETH left centralized exchanges (CEXs) in week
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Exchange outflows often suggest that investors are transferring assets from centralized exchanges to private wallets.One of the most popular explanations for rising exchange outflows is that long-term investors are withdrawing assets to retain them for a longer period. This can be interpreted as a sign of confidence in the cryptocurrency's long-term potential.believes ETH's rise above $1,800 was aided by network growth and exchange outflows.
The volume settled last week on Ethereum surpassed $213 billion on the mainnet alone, with an additional $16 billion being transacted between Arbitrum, Optimism and Base.Though market prices may see a short-term correction, improved on-chain activity and increased spot-driven inflows indicate that strong demand is driving crypto's advance.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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