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While $310 million ETH entered exchanges, a staggering $1.1 billion was withdrawn.
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The market is unregulated, and even slight events could swiftly move prices back and forth. For instance, Ethereum’s price bounced between $5 and $15 per coin in 2016. The price then soared to about $1,500 in early 2018 before dropping to less than $100 by that year.
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The cost of Ethereum only jumped to over $500 in late 2020.
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Ethereum is a highly volatile asset, with constant price fluctuations like other cryptocurrencies.
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USDT saw $809 million in exchanges, while only $630.4 million was withdrawn.
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Bitcoin and Ethereum witness substantial net outflows from exchanges.
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