Outflows Remain The Order Of The Day As Ethereum Crosses $3,300

Ethereum has now cemented its position above the hard-won $3,000 level. This signals another bull rally for the digital asset given how the market has responded to its recent surge. More money is coming into the digital asset daily as investors clamor to take part in the gains. This is evidenced by the exchange inflows and outflows, which show a clear buy and accumulate trend on the part of these investors. Ethereum Outflows Grow For the past week, Ethereum, like its counterpart Bitcoin, has been on an outflow trend. This trend saw more of the digital asset leaving exchanges than have been coming in. Glassnode Alerts makes daily reports of exchange inflows and outflows, showing that Ethereum investors are choosing to remove their coins off exchanges, presumably to safer, personal wallets. Related Reading | Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining In the one-week time frame, daily exchange outflows had consistently been above that of inflows. In total, there was a total of $5 billion worth of Ethereum that were moved into exchanges in one week. Compared to this is outflows, which came out at $6 billion in total leaving exchanges. This translates to 20% more ETH leaving exchanges than those being moved in to be too sold. 🚨 Weekly On-Chain Exchange Flow 🚨#Bitcoin $BTC➡️ $7.3B in⬅️ $7.7B out📉 Net flow: -$474.3M#Ethereum $ETH➡️ $5.0B in⬅️ $6.0B out📉 Net flow: -$1.1B#Tether (ERC20) $U...