$9 billion in Ethereum was withdrawn from exchanges within the past three days, suggesting that whales might be accumulating.
A Massive 2.2M ETH Exited Exchanges In The Last Three Days Alone
As pointed out by a CryptoQuant post, on-chain data shows around $9 billion in Ethereum was taken off exchanges in the past few days.
The indicator of relevance here is the “exchange reserve,” which measures the total amount of ETH present in exchange wallets.
When this metric’s value goes down, it means investors are withdrawing their Ethereum from exchanges. Such a trend may be a sign of accumulation, and could be bullish in the long-term.
On the other hand, when the indicator moves up, it implies holders are moving their coins to exchanges either