Ethereum Exchange Liquidity Draining Fast, What This Means For ETH Price
Ethereum Liquidity Drain
Centralized trading platforms are regarded as the primary avenue through which most traders get access to cryptocurrencies, including Ethereum. The availability of this coin is already being threatened as hinted by top market analyst Ali Martinez.
In a recent post on X, Martinez noted that since the spot Ethereum ETF products were approved in the US, approximately 777,000 ETH, valued at about $3 billion have been withdrawn from crypto exchanges. While the ETH ETF products are yet to start trading officially on exchanges, a sustenance of this trend might play a major role in shaping the price action of ETH in the long term.
