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$70,470.00 0.52959
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$3,567.41 -0.19417
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BNB
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$582.56 1.06898
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$183.69 -1.49266
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$0.6200850 -0.20991
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$0.0000323 6.18339
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$0.0000274 5.80043
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Bitcoin
Bitcoin (BTC)
$70,470.00 0.52959
Bitcoin price
Ethereum
Ethereum (ETH)
$3,567.41 -0.19417
Ethereum price
BNB
BNB (BNB)
$582.56 1.06898
BNB price
Solana
Solana (SOL)
$183.69 -1.49266
Solana price
XRP
XRP (XRP)
$0.6200850 -0.20991
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000323 6.18339
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000081 2.3461
Pepe price
Bonk
Bonk (BONK)
$0.0000274 5.80043
Bonk price
Bitcoin
Bitcoin (BTC)
$70,470.00 0.52959
Bitcoin price
Ethereum
Ethereum (ETH)
$3,567.41 -0.19417
Ethereum price
BNB
BNB (BNB)
$582.56 1.06898
BNB price
Solana
Solana (SOL)
$183.69 -1.49266
Solana price
XRP
XRP (XRP)
$0.6200850 -0.20991
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000323 6.18339
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000081 2.3461
Pepe price
Bonk
Bonk (BONK)
$0.0000274 5.80043
Bonk price
Bitcoin
Bitcoin (BTC)
$70,470.00 0.52959
Bitcoin price
Ethereum
Ethereum (ETH)
$3,567.41 -0.19417
Ethereum price
BNB
BNB (BNB)
$582.56 1.06898
BNB price
Solana
Solana (SOL)
$183.69 -1.49266
Solana price
XRP
XRP (XRP)
$0.6200850 -0.20991
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000323 6.18339
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000081 2.3461
Pepe price
Bonk
Bonk (BONK)
$0.0000274 5.80043
Bonk price

Ethereum’s withdrawals are rising amid price drop

ethereums-withdrawals-are-rising-amid-price-drop
Edited by
News
Ethereum’s withdrawals are rising amid price drop

The number of ethereum (ETH) withdrawals from exchanges has constantly risen over the past week as the asset’s price plunges from local highs.

According to data provided by crypto.news, the ETH price dropped by 3% in the past 24 hours. Ethereum is trading at $1,850 at the time of writing. The second-largest cryptocurrency is also down by over 8% from its local high of $2,008 on May 6.

Moreover, the number of ethereum withdrawals from exchanges reached roughly 4,405, marking a 14-month high last seen in March 2022, according to data provided by Glassnode.

https://twitter.com/glassnodealerts/status/1655456357343014912?t=QH8XoRAEUSEuHyZ0wwIgzA&s=19

Per the tweet, the same behavior was seen in December last year, when ETH was trading at around $1,250.

On the other hand, Glassnode data also shows that the amount of ETH supply active between one and two years on a one-day median average has reached over 41,090,025 coins, marking a new all-time high (ATH).

https://twitter.com/glassnodealerts/status/1655441281575690240

According to a crypto.news report on May 7, the number of ETH deposits to centralized exchanges (CEXs) witnessed a sudden spike, triggering a short selling pressure on the platforms.

Furthermore, despite the asset’s price drop, the fees on the Ethereum blockchain rose to a one-year high of around 260 gwei on May 5. According to data provided by ultra sound money, the fees on the Ethereum network are down by 63% from the local top and stand at 95 gwei at the time of writing.

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