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The Daily Hodl 2025-02-17 01:00:43

$2,457,900,000 Worth of Ethereum (ETH) Withdrawn From Crypto Exchanges in Less Than Two Weeks, Says Analyst

$2,457,900,000 Worth of Ethereum (ETH) Withdrawn From Crypto Exchanges in Less Than Two Weeks, Says Analyst

A closely followed crypto strategist says investors are heavily accumulating the top layer-1 platform Ethereum ( ETH ). Trader Ali Martinez tells his 125,900 followers on the social media platform X that crypto investors have taken out almost 1 million ETH tokens from digital asset exchanges in a little over a week. “More than 900,000 Ethereum ETH have been withdrawn from exchanges in [10 days], signaling increased accumulation and reduced sell pressure!” Source: Ali Martinez/X With Ethereum trading at $2,731 at time of writing, the 900,000 ETH tokens are worth over $2.457 billion. Looking at ETH whale activity, Martinez says the deep-pocketed investors gobbled up over $764.68 million worth of Ethereum in just three days. “Whales bought 280,000 Ethereum ETH in [72 hours]!” Source: Ali Martinez/X Amid the heavy accumulation of ETH, Martinez says Ethereum is flashing a bullish technical signal based on the Tom DeMark (TD) Sequential indicator—a metric used to measure potential points of reversal for an asset. The trader also notes that ETH is showing the signal while it hovers close to the diagonal support of an ascending channel, a pattern suggesting that an asset is in an uptrend. “Each time the TD Sequential indicator flashes a buy signal on the Ethereum ETH weekly chart near the lower boundary of this channel, prices have historically rebounded strongly. A similar setup could be unfolding now!” Source: Ali Martinez/X Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Animedigitalart The post $2,457,900,000 Worth of Ethereum (ETH) Withdrawn From Crypto Exchanges in Less Than Two Weeks, Says Analyst appeared first on The Daily Hodl .

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