Ethereum (ETH) experienced a significant withdrawal from exchanges last week, according to data from Santiment. Approximately 110,000 ETH, equivalent to $181 million, was moved in the largest transaction of its kind since August 21.
The quantity of Ethereum held outside of exchanges reached an all-time high of 115.88 million ETH during the same period. Meanwhile, the amount of Ethereum held within exchanges fell to a five-and-a-half-year low, indicating a shift in investor behavior.
In addition to these movements, CoinGecko data recorded a slight price dip for Ethereum. The cryptocurrency's market cap stood at approximately $196.7 billion, with a 24-hour trading volume close to $7.3 billion. The trading range for Ethereum was between $1,631.65 and $1,654.45.
However, not all Ethereum-related news was positive. Senior analysts at K33 noted that the debut of Ethereum futures Exchange-Traded Funds (ETFs) did not meet expectations. No further details were provided regarding the performance of these ETFs or potential reasons behind the disappointing launch.
This sequence of events indicates a dynamic period for Ethereum, with significant withdrawals from exchanges and an underwhelming debut for futures ETFs. The implications for investors and the broader market remain to be seen.
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