Ethereum is trading at $3,500 after a 24-hour drop of 2%. Weekly price action remains positive, with a 3% gain.
Over the past month, on-chain data has shown a sharp shift in exchange behavior. Roughly 700,000 ETH has been withdrawn from centralized platforms, according to Mister Crypto. The reduction in exchange supply is now in focus as the market assesses what comes next.
Exchange Outflows Accelerate
Ethereum’s exchange balance has been declining over the past several weeks. Netflow data during this period shows a clear bias toward outflows, with multiple instances of large withdrawals from centralized platforms. The size and frequency of these outflows point to consistent movement of ETH away from exchanges.
Source: CryptoQuant
Although there were moments when inflows appeared, they were smaller and short-lived. These limited inflows did not shift the broader trend. The continued reduction in exchange balances suggests that many holders are removing ETH for long-term storage or ot
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