Crypto Exchanges Lose $908 Million Ethereum in Surprising Twist

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Mar 2, 2024 21:03

Recent statistics from IntoTheBlock on Ethereum revealed a shocking twist. According to its tweet, $906 million ETH exited exchanges this week, marking the eighth week of net outflows. According to a graphic shared, total fees for the ETH network increased by 43.56% to $108.3 million. Ethereum’s significant outflows displays positive investor sentiments. Moreover, Ethereum has gained 105% in one year, reaching $3521 on Feb. 29. The upward-sloping moving averages make it seem all well, but the RSI’s overbought zone might bring a slight pullback. ETH may very well target the $4,000 level, if it is able to cross the $3,521 barrier.