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ETH Withdrawals Reach 3.9 Million, $800 Million Outflow, Lowest Exchange Levels Since 2015

Jun 7, 2024, 05:22 AM

In the past week, 3.9 million ETH, representing 3.2% of the total circulating supply, has been withdrawn from exchanges. This significant outflow has reduced the amount of ETH on exchanges to its lowest level since September 2015. Over $800 million worth of ETH was withdrawn from centralized exchanges in the last seven days. The last time ETH had a net inflow to exchanges was on May 25th. Despite the news of an incoming ETH ETF approval last month, the aggregate balance of ETH-based stablecoins on exchanges has decreased by about 10% month-over-month, now standing at $31.8 billion.