Nansen: ETH Exchange Inflows Surge, Hitting Four-Month High
CryptoNewsTerminal Staff21 May, 2024
Nansen: ETH Exchange Inflows Surge, Hitting Four-Month High
## Nansen: Highest ETH Daily Net Inflow in Four Months According to Nansen Intelligence data, the net inflow of ETH into exchanges reached 81,840 ETH (approximately $306 million) on August 21st (local time). This represents the largest daily inflow since January 23rd. Nansen noted that this data marks the third consecutive day of inflows, which is notable given the recent expectation that the US regulators will approve an Ethereum spot ETF. This positive sentiment may be driving investors to hold ETH off exchanges, which is in contrast to the general trend of decreasing exchange balances. Typically, exchange inflows indicate potential selling pressure, while outflows suggest longer-term holding behavior. The recent surge in ETH exchange inflows could potentially indicate increased selling pressure or preparation for ETF approval.
