May 2, 2025
There is a historic outflow of Ethereum from Binance. Is it a bullish signal or not?
The withdrawal rate of the cryptocurrency ether (ETH) to wallets boosts market bullish expectations.
9.6 million ether (ETH) and 1.1 million bitcoin (BTC) have been withdrawn from exchanges over the past month, with Binance dominating 49% and 22%, respectively, of such outflows.
The percentage of ETH withdrawals on Binance is an unprecedented figure, according to data from the CryptoQuant explorer. This raises bullish expectations for its market, as outflows of cryptocurrencies from exchanges usually indicate that investors do not plan to sell their holdings in the short term.
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