The Ethereum price decline seems to have opened up the opportunity for fast accumulation among investors over the last week. This comes as data shows a significant amount of the cryptocurrency actually being moved out of the wallets of centralized exchanges. Historically, a move like this has pointed to investor buying rather than selling, suggesting that investors are taking advantage of the red month of June to actually fill up their bags. The Numbers Say Ethereum Investors Are Choosing To Buy Recent data from CryptoQuant, an on-chain data aggregator, shows that Ethereum investors are moving into accumulation mode for the month of June. This comes as the cryptocurrency started out the month with hundreds of thousands of ETH being moved out of centralized exchanges and presumably to private wallets. Related Reading: Dogecoin Will ‘Pump Hard’ After This Happens, Analyst Clocks Generational Entry The data shows that Ethereum had started out the month of June with 3.87 million ETH. However, just one week into the new month, there had been over 475,000 ETH withdrawn from centralized exchange wallets. This move was not only felt on one crypto exchange, but with notable declines coming in from major exchanges. The top losers included the likes of Binance, Bitfinex, OKX, and Gemini exchange, all recording major outflows during this time. This move also comes as the Ethereum price has declined below the $2,000 support, suggesting that investors are looking at these prices as low levels to get into the cryptocurrency. Buying ETH In A Red Month The month of June has historically been a red month for the Ethereum price, so the argument could be made that investors are using this opportunity to load up on the cryptocurrency. In its decade in the market, the ETH price has only closed June in the green a total of three times, data from the CryptoQuant website shows. Related Reading: Has The Bitcoin Price Crash Ended Or Is This Just The Beginning? Analyst Answers All of the other years have seen the digital asset end the month of June with varying degrees of losses. This brought the average return for the month for Ethereum to -7.59%, second only to September’s average of -10.2%. The median returns come out to -8.64% for June and -12.7% for September. This means that June is the second-worst-performing month for the Ethereum price. Keeping in line with historical performance, the ETH price is already down by over 16% at the time of this writing, suggesting that it could lead to another red close for the digital asset. Featured image from Dall.E, chart from TradingView.com

The Ethereum price decline seems to have opened up the opportunity for fast accumulation among investors over the last week. This comes as data shows a significant amount of the cryptocurrency actually being moved out of the wallets of centralized exchanges. Historically, a move like this has pointed to investor buying rather than selling, suggesting &#8230;

Ethereum Exchange Reserves Lose 475,000, Is The Red Month Of June A Time To Buy?

Bitmine&#8217;s aggressive Ethereum acquisition strategy could significantly impact market liquidity and expose the company to concentration risk.
The post Bitmine buys additional 25,000 Ethereum for $41M this week appeared first on Crypto Briefing.

Bitmine&#8217;s aggressive Ethereum acquisition strategy could significantly impact market liquidity and expose the company to concentration risk. The post Bitmine buys additional 25,000 Ethereum for $41M this week appeared first on Crypto Briefing.

Bitmine buys additional 25,000 Ethereum for $41M this week

The AI market&#8217;s shift to multi-platform competition may lead to prolonged margin compression, reshaping industry dynamics and survival.
The post ChatGPT price war heats up as AI usage enters decline appeared first on Crypto Briefing.

The AI market&#8217;s shift to multi-platform competition may lead to prolonged margin compression, reshaping industry dynamics and survival. The post ChatGPT price war heats up as AI usage enters decline appeared first on Crypto Briefing.

ChatGPT price war heats up as AI usage enters decline

Binance&#8217;s dominance in Ethereum derivatives heightens systemic risk, making ETH vulnerable to platform disruptions and regulatory actions.
The post Binance sees record open interest in Ethereum terms as traders pile into long positions appeared first on Crypto Briefing.

Binance&#8217;s dominance in Ethereum derivatives heightens systemic risk, making ETH vulnerable to platform disruptions and regulatory actions. The post Binance sees record open interest in Ethereum terms as traders pile into long positions appeared first on Crypto Briefing.

Binance sees record open interest in Ethereum terms as traders pile into long positions

Solana price has failed to build momentum after rebounding from last week’s lows, with technical and on-chain signals pointing to lingering downside risks. According tot data from crypto.news, Solana (SOL) fell from around $80 on June 1 to a multi-month…

Solana price has failed to build momentum after rebounding from last week’s lows, with technical and on-chain signals pointing to lingering downside risks. According tot data from crypto.news, Solana (SOL) fell from around $80 on June 1 to a multi-month…

Solana price could revisit June lows as recovery runs out of steam

Bitcoin&#8217;s resilience amid institutional outflows highlights its stability, while altcoins face increased volatility and competitive pressures.
The post Bitcoin advances and holds above key technical level as ether and solana struggle to keep pace appeared first on Crypto Briefing.

Bitcoin&#8217;s resilience amid institutional outflows highlights its stability, while altcoins face increased volatility and competitive pressures. The post Bitcoin advances and holds above key technical level as ether and solana struggle to keep pace appeared first on Crypto Briefing.

Ethereum Exchange Reserves Lose 475,000, Is The Red Month Of June A Time To Buy?

Comments