The cryptocurrency exchange lost $908 million in Ethereum in a surprising reversal.

author: Nidhi Kolhapur

Nidhi is a certified digital marketing executive and passionate cryptocurrency journalist covering the world of alternative currencies. She shares the latest trending news about cryptocurrency and blockchain.

March 2, 2024 21:03

Ethereum’s latest statistics from IntoTheBlock reveal a shocking twist. According to the tweet, $906 million ETH left exchanges this week, marking the eighth week of net outflows. According to the graphic share, total fees on the ETH network increased by 43.56% to $108.3 million. Ethereum’s significant outflows show positive investor sentiment. Moreover, Ethereum rose 105% in one year, reaching $3,521 on February 29th. Although everything looks good due to the rising moving averages, the overbought zone in RSI could lead to some downside. ETH will likely target the $4,000 level if it can overcome the $3,521 barrier.