About 657,770 ETHs of estimated $1.973 billion in value has left crypto exchanges in a single week, according to EWN. The amount reveals optimism around the long-term prospects of the world’s second largest cryptocurrency.
The inflows into Ethereum happens when cryptocurrencies have faced a deep turmoil, with ETH dropping to below $3,000 on Wednesday.
Comparatively, bitcoin sent to crypto exchanges has reached 11,933 BTC, with an estimated $486.4 million net worth.
Investors sending the digital token to the ETH 2.0 deposit contract has also risen, and the account now holds Ethereum valued at about $14 billion.
With fewer Ethereum investors selling their token holdings, ETH is projected to rise again amid the current slump.
Ethereum is currently declining. ETHUSD is down 27.14%
