In the past 24 hours, approximately 69,400 ETH has been transferred to centralized exchanges (CEX), indicating strong capital movement within the Ethereum ecosystem.
Data shows that Binance received the largest inflow with 92,800 ETH, while Bitfinex and Coinbase Pro witnessed significant ETH withdrawals.
MAIN CONTENT
Approximately 69,400 ETH was transferred to CEX exchanges within 24 hours.
Binance recorded a cash inflow of 92,800 ETH, leading the market.
Bitfinex and Coinbase Pro had large withdrawal amounts of 17,300 ETH and 3,490 ETH.
How has the inflow and outflow of ETH on centralized exchanges been in the past 24 hours?
According to the latest data from Coinglass, in the last 24 hours, a total of approximately 69,400 ETH has been transferred to centralized exchanges. This is a sign that trading activity and liquidity of ETH in the CEX market remain quite vibrant.
This reflects the interest as well as movements that may relate to trading or investment strategies of whales and large investors in the cryptocurrency market.
Which exchange leads in ETH inflow and why is this important?
Binance stands out as it received an inflow of up to 92,800 ETH, surpassing other exchanges. This number indicates that Binance continues to hold a central position in the Ethereum ecosystem, where large trading volumes and high liquidity are concentrated.
The inflow of ETH into Binance may be related to investors preparing to trade or taking advantage of arbitrage opportunities, placing Binance in an important position in the capital flow of the cryptocurrency market.
What does the situation of ETH withdrawals from major exchanges like Bitfinex and Coinbase Pro indicate?
Bitfinex and Coinbase Pro recorded withdrawal amounts of 17,300 ETH and 3,489.96 ETH, respectively. This signals that many investors are moving ETH out of these exchanges, possibly to transfer to personal wallets or engage in other activities such as Staking or DeFi.
This ETH withdrawal may reflect a declining trading trend on these exchanges or preparation for longer-term investment strategies. At the same time, it also affects liquidity and prices in the spot market.
The movement of ETH capital on exchanges clearly reflects market trends and sentiment, serving as an important indicator for investors and traders in making decisions.
Quoted from the cryptocurrency market analysis report, 2024
Common issues with trading ETH on CEX exchanges?
Investors often wonder about transaction confirmation times, gas fees, and price volatility when transferring ETH into or out of CEX exchanges.
Additionally, account security and risks associated with holding ETH on exchange wallets are top concerns for users.
Important considerations when transferring ETH on exchanges?
Users need to ensure they enter the correct wallet address, carefully check transaction fees, and monitor processing status on the blockchain to avoid asset loss.
At the same time, it is advisable to use a secure personal wallet when not trading frequently to protect assets from security risks.
Frequently Asked Questions
1. Why is the inflow of ETH into Binance much higher than other exchanges?
Binance is a high-volume, high-liquidity exchange, attracting many whales and institutional investors transferring ETH in for trading and investment.
2. Does withdrawing ETH from exchanges mean that the price of ETH will increase?
Not necessarily; withdrawing ETH from exchanges can be for long-term storage or DeFi usage, but it can also be related to other investment strategies, not directly implying price increases.
3. How to track ETH flows on exchanges?
On-chain tracking tools and data from market analysis platforms like Coinglass or Dune Analytics can be used to capture ETH movements.
4. What are the typical fees for transferring ETH to an exchange?
The fees for transferring ETH depend on the gas fees on the Ethereum network, fluctuating based on time and network congestion, and can change rapidly throughout the day.
5. Should ETH be held long-term in an exchange wallet?
Not recommended due to security risks; it is advisable to use personal wallets or cold wallets to protect assets when not trading frequently.
Source: https://tintucbitcoin.com/ethereum-do-hon-69-400-eth-vao-cex/
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