Ethereum's Coins Saying Goodbye to Exchanges For Now

😯 There was a historic milestone of ~224,410 ETH moving away from exchanges in the 24 hours between February 8th and 9th. This was the most amount of net coins moving off of known exchange wallets in a single day in 23 months.

Though more of a long-term metric, this is a strong sign for Ethereum's struggling price. When assets are moving away from exchanges, it is typically a signal of confidence by investors, who are content with holding for the long-term.

The shrinking level of available coins to be publicly sold off also means less likelihood of future major selloffs. Just be mindful of the fact that Ethereum's performance in 2025 will still largely be dictated by Bitcoin's own ability to stay afloat and try to rebound back to ATH levels.