$ETH ETH has been moving to exchanges recently, even though the price has been stable. The CryptoQuant chart presents the total ETH sent to exchanges from May 27 to June 4 and shows that the amount was not constant.

On May 27, exchange inflows were around 200,000 ETH but surged to over 1.3 million ETH by June 1 before going down again. This indicates that there was a noticeable transfer of ETH onto exchanges, probably by investors planning to sell or trade.

Despite these many transactions, Ethereum’s price continued to stay between $2.54K and $2.68K. Still, the crypto asset’s price only went down marginally, which shows that demand matched the selling activity.

The reason for the sudden increase in inflows is not yet understood, but it might be due to large holders (whales) switching their assets or traders responding to broader market movements.

CoinMarketCap data shows that ETH trades at $2,605.38 at the moment, showing a slight 2.37% increase in the past 24 hours.

Trading volume on Ethereum for the past 24 hours stands at $18.15 billion, which is an increase of 16.03% compared to the previous day.