Jan 13, 02:41 PM

Ethereum Sees $1.4 Billion Outflows Amid Price Drop to $3,268, $940 Million Outflows, and $558 Million Liquidation

Ethereum experienced substantial market activity this week, with $1.4 billion flowing off exchanges, marking the largest outflows since November. This trend suggests a shift towards accumulation as investors transfer assets into cold storage for long-term holding. However, Ethereum's price fell to $3,268 amid broader declines in the cryptocurrency market, where exchange balances reached 15.8 million ETH, indicating potential liquidation risks. Additionally, Ethereum ETFs faced outflows totaling $313 million, reducing fund assets to $11.61 billion. The overall market saw $940 million in outflows, with Ethereum alone experiencing a $256 million hit tied to technology sell-offs. In a broader context, the total liquidation volume across the network reached $558 million, with Ethereum seeing an 8.9% decline in the past 24 hours, contributing to a $328 million liquidation of altcoins, including Ethereum, Solana, and Cardano. Bitcoin also faced downward pressure, dropping below $90,000, while maintaining a 54.8% market dominance.

#Ethereum #Solana #Cardano #Bitcoin

Written with ChatGPT (GPT-4o mini).