{"id":148774,"date":"2023-09-02T23:41:18","date_gmt":"2023-09-02T18:11:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=148774"},"modified":"2023-09-02T23:41:18","modified_gmt":"2023-09-02T18:11:18","slug":"ethereum-sees-380m-outflow-from-cexs-are-investors-losing-confidence-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-sees-380m-outflow-from-cexs-are-investors-losing-confidence-crypto-news\/","title":{"rendered":"Ethereum Sees $380M Outflow from CEXs; Are Investors Losing Confidence? – Crypto News"},"content":{"rendered":"

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While Bitcoin shows signs of investor confidence with a decreased reserve on centralized exchanges, Ethereum paints a more complex narrative. According to the IntoTheBlock X post, approximately $380 million worth of ETH has left centralised exchanges (CEXs) this week and nearly $1.5 billion over the past month.\u00a0<\/span><\/p>\n

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ETH continues to record more significant exchange outflows, with $380M leaving CEXs this week and approximately $1.5M this past month pic.twitter.com\/WlteNAJssu<\/a><\/p>\n

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\u2014 IntoTheBlock (@intotheblock) September 2, 2023<\/a><\/p>\n<\/blockquote>\n

\u00a0<\/p>\n

This massive outflow coincides with Ethereum losing its recent gains following a legal victory for Grayscale against the SEC. The asset is now teetering on a critical trendline, making market analysts and investors increasingly wary of its prospects.<\/span><\/p>\n

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A Tenuous Position for Ethereum<\/b><\/h2>\n

Ethereum price<\/a> is currently trading at <\/span>$1,635.99<\/span> with a 24-hour trading volume of $4.33 billion. Despite a 0.80% increase in the past 24 hours, Ethereum has erased all of its gains after <\/span>Grayscale\u2019s legal win<\/span><\/a> against the SEC.\u00a0<\/span><\/p>\n

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The current market cap is $196.67 billion, but bearish undertones are emerging, with the asset hovering near a decisive trendline. Failure to maintain current levels could increase the risk of a significant downside in the coming months.<\/span><\/p>\n

Bitcoin\u2019s Quiet Confidence<\/b><\/h2>\n

In contrast to <\/span>Ethereum<\/span>, Bitcoin seems to be enjoying a period of increased investor confidence. The amount of Bitcoin held on centralized exchanges has decreased by 4.1% this month, reaching its lowest reserve level since January 2018. According to CryptoQuant data, centralized exchanges held 2,010,346 Bitcoin at the end of August, down by 86,305 compared to the start of the month. Bitcoin price<\/a> is trading at <\/span>$25,859.77<\/span> with a 24-hour trading volume of $14.57 billion, showing a 0.48% increase in the last 24 hours.<\/span><\/p>\n

Bitcoin and Ethereum\u2019s diverging paths suggest that traders and investors might adopt distinct strategies for each asset. While Bitcoin\u2019s decreasing supply on exchanges may indicate long-term investor optimism and possibly a wait-and-see approach in the current market conditions, Ethereum\u2019s substantial outflows are less easily interpreted. Some analysts speculate that the outflows may represent investor uncertainty in the face of upcoming network updates and legal uncertainties.<\/span><\/p>\n

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Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114<\/a> and reach out to him at sunil (at) coingape.com <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

While Bitcoin shows signs of investor confidence with a decreased reserve on centralized exchanges, Ethereum paints a more complex narrative. According to the IntoTheBlock X post, approximately $380 million worth of ETH has left centralised exchanges (CEXs) this week and nearly $1.5 billion over the past month.\u00a0 ETH continues to record more significant exchange outflows, […]<\/p>\n","protected":false},"author":2,"featured_media":125391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-148774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=148774"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148774\/revisions"}],"predecessor-version":[{"id":148776,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148774\/revisions\/148776"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/125391"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=148774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=148774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=148774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}