Ethereum News: Large ETH Outflows Signal Investor Confidence Despite Market Downturn

Recent data has revealed significant Ethereum outflows from exchanges, hinting at investors’ long-term accumulation strategies despite the crypto market’s volatility.

$1.8B Ethereum Left Exchanges Last Week; Holders See Buying Opportunity

On-chain data revealed that $1.8 billion worth of Ethereum left exchanges last week, marking the largest outflows since December 2022. Approximately 845,000 ETH were withdrawn, suggesting investors are moving ETH to private wallets for long-term accumulation. The outflows coincided with increased selling pressure as crypto markets experienced a downward trend. Ethereum has lost over 50% of its value since December 2024 and is currently trading at $2,073, a 4% decline in the past 24 hours.

Ethereum’s Pectra Upgrade Faces Disruptions on Sepolia Testnet

Ethereum’s highly anticipated Pectra upgrade encountered disruptions on the Sepolia testnet due to an exploit that led to empty block mining. The upgrade was deployed on March 5 but ran into issues a few hours later when developers noticed error messages on their geth node. According to a report from Ethereum developer Marius van der Wijden, the team discovered an unexpected behavior in the deposit contract that emitted an incorrect transfer event instead of the expected deposit event.

1.1M in ETH: What Are Ethereum Whales Preparing For?

Ethereum (ETH) continues to struggle as its price remains in a steep decline amidst a broader market drawdown. The leading altcoin has dropped by more than 48% from its mid-December 2024 high above $4,000 to a current value of $2,068. While prices trend downward, significant accumulation by whales points to a contrasting sentiment building in the background. According to data from Santiment, Ethereum whales have accumulated 1.10 million ETH in the past 48 hours, which accounted for nearly 0.92% of the total circulating supply of 120 million ETH. This significant accumulation signals a potential shift in the market, even as the price remains under pressure.

$1.8B In Ethereum Withdrawn From Exchanges In Largest Weekly Outflow Since 2022

Ethereum (ETH) has been struggling around the $2,000 level, unable to regain higher ground. Despite positive developments, such as Thursday’s U.S. Strategic Bitcoin Reserve executive order signed by President Trump, market sentiment remains bearish. Investors continue to approach the market with caution as uncertainty and selling pressure persist. This week is expected to be crucial for Ethereum, with analysts watching whether prices can stabilize at critical demand levels or if further downside is ahead. IntoTheBlock insights reveal that $1.8 billion worth of ETH left exchanges last week, signaling potential accumulation by whales or institutions.