Ethereum Investors Makes Largest Withdrawal, Sets New All-Time High

Vandana  |  Jan 25, 2021

Ethereum investors have recently withdrawn a huge chunk of ETH within just one hour and made a record. According to recent reports, the investors have withdrawn 659,000 ETH within one hour on Friday, January 22, 2020. Along with this, it has been seen that on Sunday, Ethereum reached a new all-time high of $1,447.77.

Alex Saunders, the CEO and Founder of NuggetsNews.com.au, has said that this recent withdrawal by the Ethereum investors might be the largest withdrawal to date, that too in just one hour.

Ethereum Investors Seems Bullish on ETH Long-Term Future

Saunders has mentioned the complete details about the one-hour event and portrayed his complete analysis. According to him:

“Largest withdrawal of ETH ever? 659k ETH left exchanges in a single hour yesterday as dip buyers sent coins to their stack & stake.”

Saunders has also mentioned that Ethereum investors might have moved their ETH to some offline wallets. There is also a possibility that these withdrawals might have been transferred to any DeFi platform or ETH 2.0 staking. It has been seen that the kind of activity by the Ethereum investors is completely bullish for the long-term performance of ETH. 

ETH Price Might Maintain a Bullish Outlook

It has been seen that the Ethereum price has again hit a new all-time high as the price has reached $1,447.77. As per the records, the price has increased by 17% within twenty-four hours, to set this new all-time high. A lot of analysts claim that Ethereum price goes in correlation with that of Bitcoin’s. Bitcoin is predicted to be highly bullish in the near future, hence, Ethereum investors are hoping the same for ETH. Moreover, CME Group, a top derivatives marketplace, will be launching their ETH Futures Contract. This is again highly bullish for Ethereum to take this momentum further.

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