Exchange data has revealed continued bullish sentiment from Ethereum traders. According to IntoTheBlock, $906 million worth of Ethereum was withdrawn from crypto exchanges last week, indicating a holding mentality among investors. This massive exodus of ETH from exchanges could indicate that traders are anticipating higher prices and moving their holdings into private wallets for long-term storage. Related Reading: Crypto Analyst Predicts Parabolic Rally For Cardano – Here’s The Timeline The holding attitude has emerged amid a wider spike in the price of cryptocurrencies throughout the market and numerous demands for Ethereum to cross over $4,000 and beyond. Ethereum Sees Massive Exodus From Exchanges Exchange data typically helps give an overview of the supply and demand dynamics of crypto assets. When the supply of an asset declines on exchanges, it indicates holders have a long-term view. In this vein, exchange data from IntoTheBlock concerning Ethereum has shown the dynamics tipping to the demand side as investors have increased their accumulation of the industry’s second-largest cryptocurrency since the beginning of the year. More importantly, outflows of Ethereum from exchange ..
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