Ethereum

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-withdraw-ethereum-from-exchanges/" data-wpel-link="internal">Investors Withdraw Ethereum from Exchanges</a> 
Throughout June, <a href="https://en.coin-turk.com/ethereum-eth-rises-as-market-direction-shifts/" data-wpel-link="internal">Ethereum</a> (ETH) withdrawals from exchanges did not go unnoticed. This situation may indicate that <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are inclined to hold their Ethereum by moving them away from trading platforms. Despite the decrease in exchange balances, the volume of staked ETH increased. So, what developments are happening with Ethereum’s price? 
<h2 style="text-align: justify" id="ethereum-withdrawals-increase">Ethereum Withdrawals Increase</h2> 
Ethereum withdrawals from exchanges are catching attention. Data shows that over 1 million ETH were moved from exchanges to wallets over the past 30 days in June. Approximately 
3.8 billion dollars worth of withdrawals represent a noticeable 6.4% increase compared to May. There was also a significant decrease in the amount of Ethereum on exchanges. 
CryptoQuant provided another data point showing the magnitude of the change. As of June, the amount of ETH in exchange reserves was over 17 million. 
After 30 days, there was a decrease of 1 million, bringing the total to 16 million ETH. More importantly, as of the time of writing, the reserve was around 16.6 million ETH. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-367410" src="https://coin-turk.com/wp-content/uploads/2024/07/ethereum-1-coin-turk-com.png" alt="" width="863" height="490"> 
Investors moving away from exchanges and considering staking might indicate they are acting with an expectation of a rise in both aspects. 
<h2 style="text-align: justify" id="ethereum-and-staking-developments">Ethereum and Staking Developments</h2> 
An important development on the Ethereum side occurred in staking. With the decreasing ETH supply on exchanges, there was a noticeable increase in staking. 
Glassnode data showed a steady rise in the total amount staked. This indicates that more holders prefer to earn passive income from their ETH rather than selling them, contributing to the network. 
The staking events show a shift from having Ethereum ready to sell on exchanges to securing it through staking. Recent <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> that the number of staking transactions is over 1.5 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-367411" src="https://coin-turk.com/wp-content/uploads/2024/07/ethereum-2-coin-turk-com.png" alt="" width="865" height="484"> 
Data from Dune Analytics also showed that over 33.2 million ETH are currently staked. More importantly, the amount of staked ETH represents nearly 28% of the total ETH supply. 
Considering all these situations, it is seen that investors continue to trust in Ethereum’s future rather than making panic sales. 
As of the time of writing, Ethereum continues to find buyers at $3,422 after a 0.57% decrease in the last 24 hours. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-withdraw-ethereum-from-exchanges/" data-wpel-link="internal">Investors Withdraw Ethereum from Exchanges</a></h5>

Investors Withdraw Ethereum from Exchanges

Table of Contents

COINTURK NEWS

Alte articole publicate pe 2 iul. 2024

No Evidence AI Will Raise Wages, Says MIT Professor

MoonBag Staking Rewards Trump - Solana and Immutable X face Technical Issues, MoonBag with Stagge...

Solana (SOL) Heads Towards Huge Macro Breakout

Destiny 2 announces update 8.0.0.6 maintenance timeline

Bitcoin traders say BTC’s trend change potential rests at $65K

From Tokyo to London: BlockDAG’s $55.1M Global Crypto Triumph Makes It A Better Investment Than B...

Join our free newsletter for daily crypto updates!