645K ETH flow out of centralized exchanges in past week
The Ethereum market has witnessed a major shift in liquidity this week, with nearly 645,000 ETH leaving centralized exchanges (CEXs) over the past seven days, according to the latest data from Coinglass.
Binance, the world’s largest crypto exchange by trading volume, saw the heaviest withdrawals. Over the last week, users withdrew 350,200 ETH from the platform. Coinbase Pro, the U.S.-based institutional trading arm of Coinbase, recorded an outflow of 223,600 ETH in the same period. Bybit also reported significant movement, with 65,400 ETH withdrawn from its platform in the past seven days. While smaller in scale compared to Binance and Coinbase Pro, the activity underscores a broader industry-wide pattern of declining ETH balances on centralized exchanges.
Large withdrawals from exchanges are often interpreted as a bullish signal for the market. When investors move coins off centralized platforms, it typically means they are less likely to sell in the short term, opting instead for long-term holding or staking.
Large withdrawals from exchanges are often interpreted as a bullish signal for the market. When investors move coins off centralized platforms, it typically means they are less likely to sell in the short term, opting instead for long-term holding or staking.
