By Isaac • October 24, 2026 11:16 am •
Ethereum just produced one of those market signals that looks bullish at first glance and complicated the moment you put it next to the rest of the money flow.
About 172,400 ETH left centralized exchanges on October 23, according to Santiment data summarized by CryptoSlate. At the report’s $2,400 reference price, that was roughly $407 million of Ether moving away from venues where it could be sold immediately.
That was the largest one-day exchange withdrawal in more than four months. The last bigger move came June 5, when about 223,800 ETH left exchanges.
Exchange withdrawals are usually read as a supply signal. Coins moved into self-custody, staking or institutional custody are no longer sitting one click
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