Ethereum climbed steadily on Monday. The leading altcoin rose 6% over the past 24 hours and trades above $2,700 at press time.<\/p>\n
New data now suggest that ETH is seeing a strong wave of accumulation.<\/p>\n
Ethereum has rocketed by 80% from $1,510 in just three months. According to CryptoQuant, the rally has also changed the crypto asset\u2019s recent market structure. It has moved above April\u2019s high, showing stronger momentum. Bitcoin, meanwhile, has been struggling to hold firmly above its May high.<\/p>\n
One of the major signals is coming from Binance. The monthly average of ETH withdrawal transactions from the exchange has now crossed 90,000. CryptoQuant observed<\/a> that this is the highest level seen in three years. It is also about twice the level recorded at the start of the year.<\/p>\n The rise in withdrawals can be a sign of increased accumulation. Investors appear to be moving ETH away from exchanges and into private wallets or custody solutions. This often reflects a longer-term holding strategy.<\/p>\n CryptoQuant found that the trend has been \u201cfairly sudden\u201d and significant. The data also suggests that the asset\u2019s accumulation is currently stronger than Bitcoin\u2019s. If the withdrawals continue, they could remain<\/a> an important signal for ETH\u2019s market direction in the months ahead.<\/p>\n Additionally, Crypto Patel said<\/a> that Ethereum\u2019s higher-timeframe structure has flipped bullish, as it shows a clear change of character on the chart. The move followed strong buying from the $2,300 demand area. ETH has also reclaimed the $2,483 to $2,584 fair value gap, which made this zone important for the next price reaction.<\/p>\n According to the analysis, the next upside area sits between $2,715 and $2,900, where additional liquidity could attract buyers. A larger resistance zone is located between $3,070 and $3,404. The $2,300 level remains a crucial structural support, while $1,647 to $1,744 could become relevant if the current structure breaks down. Crypto Patel added that the bullish setup remains valid as long as ETH holds $2,360.<\/p>\n US-based Ethereum ETFs had a rough week as heavy midweek selling wiped<\/a> out the gains from the start and end of the week. The funds saw $141.4 million in outflows on Tuesday, followed by another $224.1 million on Wednesday and $39.2 million on Thursday. Monday and Friday offered some relief, attracting $121 million and $143.8 million, respectively.<\/p>\n Despite this, those inflows were not enough to reverse the damage. The weak stretch has now pulled August\u2019s ETF inflows below $190 million.<\/p>\n The post Ethereum Investors Are Pulling ETH Off Binance at a Pace Not Seen in 3 Years<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum climbed steadily on Monday. The leading altcoin rose 6% over the past 24 hours and trades above $2,700 at press time. New data now suggest that ETH is seeing a strong wave of accumulation. Quiet Accumulation Ethereum has rocketed by 80% from $1,510 in just three months. According to CryptoQuant, the rally has also […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-230616","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230616"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=230616"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230616\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=230616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=230616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=230616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Midweek Losses<\/h2>\n