The biggest Ethereum outflow of 2024 took place: 154K ETH (netflow)
In the last week, the record for the largest Ethereum outflow (netflow) of the year was renewed for the second time.
What is Netflow?
Let me briefly summarize for those who have just joined us: It calculates the amount of instruments entering and exiting the stock exchanges.
Netflow data being in the negative region may cause a positive pressure on the price due to decreasing supply (assuming that demand will continue to increase).
â Result
We have been so focused on Bitcoin lately that we have forgotten altcoins, so to speak.
Following the on-chain data of alt coins will be vital in the 2024 bull. Ethereum netflow data indicates that there may be an upward attack in ETH in the short term.
Thank you for reading đ
