In a major price recovery, Ethereum saw a jump in retail demand as the crypto asset has climbed by more than 5% in the last 24 hours. Large ETH outflows from digital exchanges to unknown wallets are also playing an important role in the recent price action.
On Monday 21 March 2022, a prominent Ethereum wallet moved 80,000 coins worth over $236 million from Crypto.com to an unknown wallet. The transfer, which was executed at around 6:41 UTC, represents one of the largest Ethereum transfers in recent weeks.
The movement of leading cryptocurrencies, including Bitcoin and Ethereum, from crypto exchanges to unknown addresses and cold wallets has been surging since the start of 2021. As a result, the exchange supply of BTC and ETH has reached record low levels.
On Monday 21 March 2022, a prominent Ethereum wallet moved 80,000 coins worth over $236 million from Crypto.com to an unknown wallet. The transfer, which was executed at around 6:41 UTC, represents one of the largest Ethereum transfers in recent weeks.
The movement of leading cryptocurrencies, including Bitcoin and Ethereum, from crypto exchanges to unknown addresses and cold wallets has been surging since the start of 2021. As a result, the exchange supply of BTC and ETH has reached record low levels.