- IntoTheBlock reported a high Saturday inflow of 140,660 ETH.
- CryptoQuant and Nansen Intelligence observed increased buying activity and ETH inflows.
- Analysts like Jelle and Michaël van de Poppe anticipate significant price rises.
Insight from IntoTheBlock reveals that Saturday’s Ether (ETH) inflow of 140,660 ETH was its highest since January. The on-chain data provider noted that these high inflows to exchanges often signal sell pressure, with investors either taking profits or reacting to market fears.
The amount of Ether flowing into exchanges hit the highest point since January!With a netflow of 140.66k $ETH on saturday, this marks the highest net deposits to exchanges in over 4 months.
High inflows to exchanges are typically a sign of selling behavior, as people either… pic.twitter.com/XAesouv0XR
— IntoTheBlock (@intotheblock) May 28, 2024
Nansen Intelligence data shows increased inflows to ETH over the past week, recording a net flow of 81,840 ETH on May 21.
On the same day, CryptoQuant’s on-chain analysis reported increased buying activity on centralized and blockchain-based exchanges. Over 100,000 ETH were purchased in spot markets, a record h…
The post Ether Inflows Hit Record Levels as ETF Hype Grows appeared first on Coin Edition.