Ethereum Exchange Outflow 68.7% Up as Whale Moves 97,500 ETH Between Unknown Wallets

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Tue, 06/16/2020 - 09:56
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Yuri Molchan
The outflow of ETH from crypto exchanges has printed a new major high over the past 24 hours. Meanwhile, a crypto whale has moved 97,500 ETH to an anonymous wallet
Ethereum Exchange Outflow 68.7% Up as Whale Moves 97,500 ETH Between Unknown Wallets
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The Glassnode analytics company has shared some fresh data saying that users have been actively withdrawing their ETH from crypto exchanges – the data was collected over the past twenty-four hours.

Meanwhile, Chris Burniske tweeted that in the near future, Ethereum will be able to perform a full package of financial services thanks to DeFi.

ETH exchange outflow prints new high

According to Glassnode, over the past twenty-four hours, the amount of ETH withdrawn from exchanges by users has skyrocketed over 68 percent and now amounts to $2,525,860.

eth
Image via Twitter

As if illustrating the aforementioned data, Whale Alert has reported that a while ago, a crypto whale transferred a gargantuan sum of cash in ETH to an anonymous wallet - 97,500 ETH ($22,151,203).

As for the number of ETH transfers, over the past twenty-four hours, it also surged by 15.7 percent. The reading of this index at the moment is equal to 14,965.292.

ETH
Image via Twitter

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Ethereum Price Predicted to Hit $7,500 by Chris Burniske if Bitcoin Reaches $50,000. How Likely Is This?

‘DeFi likely to have bigger impact on ETH than ICOs did’

A co-founder of Placeholder Ventures and vocal ETH bull Chris Burniske has shared his take on Ethereum fundamentals regarding the impact that DeFi is likely to have on the second biggest blockchain and its cryptocurrency ETH.

Mr. Burniske refers back to the ICO era which ended in 2018, saying that coin offerings turned Ethereum into a giant of early-stage capital formation.

However, he reckons that now that DeFi has emerged and has been growing quite fast, it will have an even bigger impact on Ethereum and will enable it to perform a full package of financial services, not only raise funds from retail (and institutional) investors.

ETH
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.