Ethereum Exchange Outflows Hit $1.8B Last Week

Ethereum (ETH) remains under pressure as it trades at levels last seen in November 2023.

According to IntoTheBlock, a crypto analytics platform, ETH recorded $1.8 billion in outflows from exchanges over the past week, the highest weekly outflow since December 2022.

In the last three months, ETH prices have dropped nearly 50%, with an average daily loss of nearly 0.77%. At the time of writing, ETH is trading at $1,912, according to CoinGecko data.

Bullish Signal?

Ethereum’s record high price of $4,787 from November 2021 remains unbroken despite positive industry developments.

“Despite ongoing pessimism around Ether prices, this trend suggests many holders see current levels as a strategic buying opportunity,” added IntoTheBlock.

In an interview with The Defiant, Ben Kurland, CEO of crypto research platform DYOR.com said, “ETH’s $1.8 billion outflow from exchanges suggests a shift toward long-term accumulation and self-custody.”

Kurland said this massive outflow could signal that institutional players are moving assets to cold storage for security, while others are reallocating to staking for yield, especially as Ethereum’s staking ecosystem matures.

"Historically, large exchange outflows have signaled price surges, as lower exchange balances reduce immediate sell pressure. While that trend still holds, the market is evolving. With more staking options and institutional custody solutions available, ETH outflows do not necessarily mean an immediate price spike, but they do point to a growing preference for holding over selling,” added Kurland.