Ethereum’s price has shown impressive stability, indicating the cryptocurrency’s strong position in the market. Despite past concerns, there’s a noticeable positive shift in how investors are behaving, expressing confidence in the potential for Ethereum to grow.
Consistent Negative Netflow of Ethereum Across Exchanges
On September 13, a crypto analyst known as Darkfost, shared insights on X, revealing recent Ethereum investor actions.
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According to Darkfost, investor sentiment has changed significantly since Ethereum’s price dipped from $4,000 to $1,500. Previously, investors were influenced by fear and doubt, but these emotions now have less impact on long-term investing.
Darkfost reported a “consistently negative” netflow across all exchanges since that price drop. This means more Ethereum is being withdrawn from exchanges than deposited.
The analyst indicated that approximately 56,000 ETH are being withdrawn daily, averaged over a 30-day period. This level of withdrawal is reminiscent of the deepest parts of the last bear market.
Notably, there have been days recently with withdrawals exceeding 400,000 ETH. Furthermore, exchange netflows haven’t been positive since July.
This trend in token movement signifies a change in Ethereum investors’ holding strategies. They are shifting their digital assets away from trading platforms and into secure, non-custodial wallets for long-term holding. This behavior ultimately indicates increased confidence in Ethereum’s future potential.
Currently, Ethereum is valued at around $4,660, showing little change in the last 24 hours. Data from CoinGecko reveals that Ethereum’s price has increased by nearly 10% over the past week.
Bitcoin and Ethereum Reserves See Significant Drops on Exchanges
In another analysis, Darkfost examined Bitcoin and Ethereum exchange reserves across all exchanges, estimating the amount of these cryptocurrencies that have left exchanges in 2025.
The analyst stated that Bitcoin reserves across exchanges have decreased by almost 25% since the beginning of the year. Bitcoin exchange reserves have fallen 23% from 3.05 million BTC on January 1, 2025, to roughly 2.47 million BTC.
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Ethereum exchange reserves, however, only began their decline in May. As mentioned earlier, the Ethereum supply on exchanges started decreasing after the price fell below $1,500. Over the past four months, Ethereum reserves have decreased from 20.6 million to 17.1 million, a 20% decline.
A large decrease in exchange reserves is often seen as a sign of accumulation by investors. This trend could potentially drive bullish momentum for both leading cryptocurrencies, especially Ethereum, given that its coin movement began more recently.
Featured image from iStock, chart from TradingView