{"id":202474,"date":"2023-11-29T02:00:30","date_gmt":"2023-11-28T20:30:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202474"},"modified":"2023-11-29T02:00:30","modified_gmt":"2023-11-28T20:30:30","slug":"ethereum-worth-58m-flows-into-exchanges-ii-this-why-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-worth-58m-flows-into-exchanges-ii-this-why-crypto-news\/","title":{"rendered":"Ethereum worth $58M flows into exchanges &#8211; iI this why? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>Journalist<\/p>\n<\/div>\n<p>\n<span class=\"mvp-post-date updated\">Posted: November 29, 2023<br \/>\n<\/span><\/p>\n<\/div>\n<div>\n<ul>\n<li><em><span style=\"font-weight: 400\">Around 29,000 ETH has been deposited into different exchanges in the past 48 hours.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400\">ETH remained in the $2,000 price range despite declines.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">An increasing number of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/search\/ethereum\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> coins have been entering various exchanges over the last 48 hours, based on AMBCrypto\u2019s analysis via <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/lookonchain\/status\/1729165086978347377?t=RrINviOypWKNk8HcPwcpEQ&amp;s=19\" data-wpel-link=\"external\">Lookonchain<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Further analysis of these deposits showed that Cumberland and Amber collectively deposited 19,000 ETH, worth over $38 million.\u00a0<\/span><span style=\"font-weight: 400\">Additionally, Celsius and another whale address deposited 10,000 ETH, valued at around $20 million, into <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/search\/binance\" data-wpel-link=\"internal\">Binance [BNB]<\/a> and OKX. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The data implied that these specific addresses executed these transactions to facilitate the sale of their ETH on these exchanges. Depending on the proportion of their contributions to the overall trade volume, it could influence the overall trajectory of ETH\u2019s price.<\/span><\/p>\n<h4><b>Analyzing how Ethereum\u2019s netflow has reacted<\/b><\/h4>\n<p><span style=\"font-weight: 400\">An examination of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/heres-a-look-at-what-the-ethereum-whales-are-up-to\/\" data-wpel-link=\"internal\">Ethereum\u2019s<\/a> netflow data on CryptoQuant showed a positive trend in the past 48 hours. This indicated that there had been a greater inflow of ETH compared to its outflow during this period.<\/span><\/p>\n<p><span style=\"font-weight: 400\"> At the close of trading on the 27th of November, the netflow was notably positive, recording over 27,000 ETH. As of this writing, the positive netflow persisted, with over 8,000 ETH.\u00a0<\/span><\/p>\n<div id=\"attachment_80007\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28161055\/Ethereum-Exchange-Netflow-Total-All-Exchanges-scaled.jpg\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80007\" loading=\"lazy\" class=\"size-full wp-image-80007\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28161055\/Ethereum-Exchange-Netflow-Total-All-Exchanges-scaled.jpg\" alt=\"Ethereum exchange netflow\" width=\"2560\" height=\"1612\" \/><\/a><\/p>\n<p id=\"caption-attachment-80007\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Notably, this was the first positive netflow in the past five days. Also, it was the first consecutive day with a positive netflow in the recent days.<\/span><\/p>\n<h4><b>Supply continues to drop<\/b><\/h4>\n<p><span style=\"font-weight: 400\">AMBCrypto\u2019s examination of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/why-ethereum-time-to-shine-may-be-here\/\" data-wpel-link=\"internal\">Ethereum\u2019s<\/a> exchange supply on Santiment showed a consistent pattern, despite a recent increase in exchange inflow over the past 48 hours. The chart revealed that the Supply on Exchanges remained stable at around 10.51 million as of press time. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This number represented about 8.1% of ETH\u2019s total supply. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, despite the recent rise in exchange inflow, the most recent significant move reflected a decrease in supply.<\/span><\/p>\n<div id=\"attachment_80008\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28161249\/Ethereum-ETH-11.32.52-28-Nov-2023.png\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80008\" loading=\"lazy\" class=\"size-full wp-image-80008\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28161249\/Ethereum-ETH-11.32.52-28-Nov-2023.png\" alt=\"Ethereum exchange supply\" width=\"2560\" height=\"867\" \/><\/a><\/p>\n<p id=\"caption-attachment-80008\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Furthermore, recent data suggested an overall decline in the supply of Ethereum. This suggested a scenario where there were more holders than sellers, contributing to an overall reduction in the available ETH supply. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Such a trend could also have a positive impact on the price direction.<\/span><\/p>\n<h4><b>Sales volume impacts ETH<\/b><\/h4>\n<p><span style=\"font-weight: 400\">AMBCrypto\u2019s analysis of ETH\u2019s daily timeframe chart revealed a recent downtrend in price over the past few days. Specifically, there was a loss of over 3% in value within the last three days.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-eth-to-usd\" data-wpel-link=\"internal\">1,10,100 ETHs worth today<\/a>?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">As of this writing, Ethereum was trading at around $2015, experiencing a slight decline of less than 1% in value.<\/span><\/p>\n<div id=\"attachment_80009\" style=\"width: 1501px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28161433\/ETHUSD_2023-11-28_11-05-16.png\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80009\" loading=\"lazy\" class=\"size-full wp-image-80009\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/28161433\/ETHUSD_2023-11-28_11-05-16.png\" alt=\"ETH\/USD price trend \" width=\"1491\" height=\"752\" \/><\/a><\/p>\n<p id=\"caption-attachment-80009\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">This decrease in value reflected the notable volume of sales observed in the market over the past couple of days.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: November 29, 2023 Around 29,000 ETH has been deposited into different exchanges in the past 48 hours. ETH remained in the $2,000 price range despite declines. An increasing number of Ethereum [ETH] coins have been entering various exchanges over the last 48 hours, based on AMBCrypto\u2019s analysis via Lookonchain. Further analysis of these [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":202475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-202474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202474","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=202474"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202474\/revisions"}],"predecessor-version":[{"id":202477,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202474\/revisions\/202477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202475"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}