Major institutions have been accumulating Ethereum (ETH), despite its recent price struggles. Crypto asset management firm Cumberland moved 62,381 ETH, worth approximately $174 million, from exchanges to Coinbase Prime. This comes after BlackRock purchased 100,535 ETH, taking their total holdings to 1,352,934 ETH. There has also been a significant outflow of ETH from exchanges, indicating growing confidence among investors of an incoming price rally. Similar trends have been observed in the Bitcoin market, with centralized exchanges seeing a net outflow of over 17,000 BTC. These movements are seen as bullish signals by the market.



Other News from Today