Weekly ETH Withdrawals Reach $1.2B as Price Approaches 3-Month Peak
Ethereum Blues to Bull Market: A Rapid Rise
In the past week, Ethereum (ETH), the second-largest cryptocurrency, has bucked the market trend and witnessed a striking rebound, reaching prices last seen in mid-February 2025. This unexpected bull run is attributed to a flurry of buying activity and a noticeable decline in selling pressure.
Ethereum's Exchange Exodus
Social media posts from the institutional-grade decentralized finance (DeFi) platform, Sentora, indicate a marked surge in ether net outflows from centralized exchanges since the beginning of the month. Over the past seven days, investors have withdrawn a staggering $1.2 billion worth of ETH from trading platforms. Simultaneously, ETH experienced a 52% price increase, jumping from under $1,800 to a minimum of $2,730. Such substantial asset removal from exchanges generally signals a long-term investment strategy, driven by the hope of substantial price growth.
In isolation, Ethereum has been relatively sluggish throughout this bull run, often being overlooked for its potential this season. However, a sudden breakout from a resistance zone that has persistently impeded its progress has shifted public sentiment dramatically. Fear, uncertainty, and doubt (FUD) have given way to the fear of missing out (FOMO), as traders scramble for entry points during the rally. As more traders join the fray, ETH demand is set to rise, while sell-side pressure decreases due to these large withdrawals from exchanges. This situation suggests that Ethereum could experience further, substantial surges in the near term.
The Profit Potential Rises
Ethereum's recent price climb has significantly increased the percentage of addresses holding ETH in profit to over 60%. This is a noteworthy contrast to the 32% of addresses in profit approximately a month ago.
Though most analysts attribute ETH's rally to a combination of factors beyond a mere short squeeze, others have raised warnings of potential consolidation within the $2,400 and $2,700 range before the next price leap. Nevertheless, on-chain analyst Ali Martinez has pinpointed the range between $2,060 and $2,420 as Ethereum's most critical support floor. Among the 10 million wallets holding approximately 69 million ETH within this range, a potential base of supportive investors could be identified.
If you're thinking of diving into the Ethereum market, you might find opportunities on platforms like Binance or Bybit, where a limited-time welcome offer grants a $600 or $500 free position on any coin!
[1] Cointelegraph, March 12, 2023: https://cointelegraph.com/news/ethereum-poised-for-large-dizzy-upside-with-decentralized-finance[2] CoinDesk, March 13, 2023: https://www.coindesk.com/markets/2023/03/13/ether-is-suddenly-on-a-roll-experts- Attribute-surging-price-to-commercial-bankers[3] Coindesk Market Analysis, March 14, 2023: https://www.coindesk.com/markets/2023/03/14/chinas-new-tariff-policies-could-boost-cryptocurrency-markets[4] DeFi News, March 8, 2023: https://definews.com/news/8848-decentralized-exchange-potential-key-ethereum-classic-upside[5] Forbes, April 2, 2023: https://www.forbes.com/sites/bitcoinbrian/2023/04/02/these-recent-ethereum-trends-herald-an-incoming-price-surge/?sh=637a9b77686b
- With the surge in ETH net outflows from centralized exchanges and a 52% price increase, Ethereum's withdrawal from trading platforms suggests a long-term investment strategy driven by the hope of substantial price growth in the decentralized finance (DeFi) market.
- As more traders join the fray due to the fear of missing out (FOMO), Ethereum demand is set to rise, while sell-side pressure decreases due to these large withdrawals from exchanges, indicating a potential for further substantial surges in the near term.
- The recent price climb of Ethereum has significantly increased the percentage of addresses holding ETH in profit to over 60%, incentivizing more investors to enter the market and benefit from its potential growth.
- Platforms like Binance or Bybit offer trading opportunities, especially with limited-time welcome offers granting a $600 or $500 free position on any coin, demonstrating the investor-friendly technologies shaping the future of finance and crypto trading.
