#ETH #capitalización #Investment Over 200,000 Ethereum tokens sent to centralized exchanges: a threat to ETH price?
After a relatively quiet start to the week, Ethereum price appears to have returned to some of its early December promise. However, the latest on-chain revelation shows that the “king of altcoins” could face some uncertainty in the coming weeks. A large amount of ETH has hit centralized exchanges in recent days, causing these platforms' Ethereum balances to surge.
200,000 ETH sent to exchanges in four days: what's next?
In a post on Platform X, a crypto expert revealed that investors have been moving massive amounts of Ethereum to centralized exchanges in recent days. This on-chain revelation is based on the “Balance On Exchanges” metric from data analytics platform Glassnode.
According to Glassnode data, around 200,000 ETH (worth over $460 million) have been transferred to well-known cryptocurrency exchange wallets in the last four days. When most cryptocurrencies are sent to centralized exchanges, it usually suggests that some investors might be looking to offload their assets.
Total Ethereum balance on all crypto exchanges | Source: Ali_charts/X Currency inflows can be an indicator of sell-offs, as investors often use these centralized exchanges in order to sell assets. Consequently, transferring massive amounts of cryptocurrency to these platforms could place downward pressure on the price of a cryptocurrency (Ethereum, in this case).