Binance's monthly average number of ETH withdrawal transactions rises to a more-than 3 year high
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AT A GLANCE
Withdrawals of ETH from Binance reached a 3-year high, and analysts believe investors may be continuing to accumulate ETH.
Article
Analysis: Ethereum exchange platform withdrawals hit 3 a new yearly high, suggesting investors may be continuing to accumulate ETH BlockBeats news,September 21, CryptoQuant analyst Darkfost stated in a post that over the past 3 months,ETH's price rose from 1510 USD to 2650 USD, an increase of more than 75%, breaking through the April high. By comparison, Bitcoin has not yet consistently held above the May high, and 's ETH trend has temporarily taken the lead.
Darkfost noted that on Binance the ETH withdrawal transaction volume recently reached its highest level in 3 years, with the average monthly number of withdrawal transactions in ETH just surpassing 90000 transactions, a level not seen since 2023 and approximately double the level at the beginning of the year. Large amounts of ETH were transferred out of platforms such as Binance, which usually means that investors purchased ETH and then moved it to private custody solutions; such behavior is often associated with a long-term holding and accumulation strategy. At present, this accumulation trend is significantly stronger on ETH than on BTC.
Original link https://m.theblockbeats.info/flash/368175
Key points
01
Over the past 3 months, the price of ETH rose from 1510 USD to 2650 USD, an increase of more than 75%.
02
The monthly average number of ETH withdrawal transactions on Binance just surpassed 90000, approximately double the level at the beginning of the year.
03
Large amounts of ETH are transferred out of exchanges such as Binance, usually reflecting the purchase of the asset followed by transfer to private custody solutions and a medium- to long-term holding strategy.
04
The original text states that the current accumulation trend for ETH is significantly stronger than that for BTC.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Withdrawal volume refers to the amount of ETH withdrawn from trading platforms or the number of withdrawal transactions. The article argues that more ETH being moved into private custody solutions may indicate that some investors plan to hold for the medium to long term after buying.
Why it matters to readers
If increased withdrawals are related to long-term holding, the amount of tradable ETH on exchanges may decrease; however, the article provides only analysts' assessment.
This can help beginners distinguish between market signals: rising prices and investor holding behavior, but it cannot independently prove that ETH will continue to rise.
Risks and unknowns
“Withdrawals usually mean that investors move assets into private custody solutions after buying” is the analyst’s interpretation of behavior, not confirmation of each withdrawal.
Both the “3-year high” in the headline and the “highest level not seen since 2023” in the body are taken from the original text; the specific statistical methodology is not stated.
The text uses expressions such as “may” and “usually,” so it cannot confirm that investors will necessarily continue accumulating ETH.
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