Ethereum Pricing Updates: Historic Move Of 224,410 Tokens Showed Instant Results & Bullish Tendencies

In a historic event, 224,410 ETHs were moved from exchanges in 24 hours. This move took place on February 8th and 9th. Experts claim that this move is the biggest and most prominent outflow of a token from an exchange in two years or 23 months. This move can certainly change everything for better or for worse. For now, this move will decrease ETH’s overall selling pressure. As a result, this will help stabilise the price volatility of the token. 

Santiment were the first to break this news. The crypto organisation recorded this move and reported that it suggests shifting investor sentiments. Investors would rather prefer holding ETH than liquidating it. Therefore, such a tendency could work as a catalyst for long-term bullish market sentiments. Coindesk data shows investors have started storing ETH tokens in cold storage or transferring them to personal wallets. Which in turn created an overall dearth of ETH tokens in exchanges.  

The Implication 

At the time of outflow, ETH prices hovered at $2,850, with a trading value of around $1.2 million on Binance. Subsequently, the global trading volume for the token was around $3.4 billion. Experts suggest that this outflow can have a positive impact on the prices of the token. A reduced supply can create a positive disparity between supply and demand. This can help the prices to rise.  

Immediately after the move, ETH prices surged by 3.5% within the next 24 hours. As a result, the pricing reached $2,950 on February 10th, 2025, as per CoinMarketCap data. The data shows a positive shift in the market towards a bullish tendency. The move also positively impacted the trading volume of the ETH/BTC pair. ETH  trading volume increased by 15%, from  500,000 to 575,000 tokens. Therefore, it suggests that the market is positively interested in ETH. 

The RSI of ETH after this move was at 65. This is a neutral number, meaning the token is neither overbought nor oversold. This means that the coin is in a stable state. Moreover, Coinology states that MACD data shows bullish tendencies as the MACD line crosses above the signal line. This means that there is a possibility of an upward momentum. Therefore, it is safe to say that ETH is currently holding its own beautifully. Follow for more crypto news.