Coinbase Witnesses Largest Ethereum Outflow of the Year, Surpassing $1 Billion

Coinbase saw the largest Ethereum outflow of the year, totaling over 336,000 ETH, worth more than $1 billion on June 12th.

If these withdrawals are not internal shuffles within the exchange, they could signal a highly positive long-term outlook for the world’s largest altcoin. “Whether this assumption is correct will become clear in the coming days. However, such movements that reduce the circulating supply are expected to have a positive impact on the price in the medium to long term.”With the US Securities and Exchange Commission’s approval of spot Ethereum ETF, ETH-based investment products witnessed a substantial rebound last week,The degree of excitement around these investment vehicles is moderate, as evidenced by the recent traders’ positions.

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