According to analytics company IntoTheBlock, altcoin withdrawals from trading platforms have accelerated in recent days.
During the period from 000 February to March 1, 982 thousand ETH ($22 million, taking into account the current exchange rate on March 2). This was announced on Twitter by the analytical company IntoTheBlock. According to analysts, the outflow of the largest altcoin by capitalization from trading platforms has accelerated. Over the same period, Ethereum has risen in price by %, to $3 thousand
$ETH has seen 7 days of consecutive outflows from exchanges.
As the price increases, the supply available to buy from exchanges has been decreasing non-stop in 2021.
Over 000, ETH left exchanges since Feb 22nd.???? pic.twitter.com /3Jrjab4vjJ
— IntoTheBlock (@intotheblock) March 1, 2022
The acceleration of the withdrawal of Ethereum from crypto exchanges may be due to geopolitical tensions, which intensified after Russian President Vladimir Putin announced the conducting a military operation on the territory of Ukraine.
On March 2, Ethereum is trading at $2.9 thousand, and its capitalization is $354 billion, according to CoinGecko. In November 354 of the year, the altcoin updated its all-time high above $4.8 thousand. Since then, its value has fallen by 40%.
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