Ethereum exchange outflows hit $5.7 billion

Crypto exchanges saw a sharp surge in Ethereum outflows in the past week. Nearly $5.7 billion worth of ETH left prominent digital asset trading platforms. During the period, inflows came in at $4.8 billion. Glassnode’s data revealed Ethereum whales were the reason behind this acceleration. “Number of ETH addresses Holding 10+ coins just reached a 16-month high of 290,162. The previous 16-month high of 290,126 was observed on 22 May 2022,” Glassnode noted.