Coinbase ETH outflow spike”: “Record $1.2B ETH Withdrawn from Coinbase, Supply at 8-Year Low

1. ETH outflow from Coinbase
2. Biggest ETH outflow 2024
3. ETH supply on exchanges 8-year low

In a major development, a staggering 336,000 ETH valued at $1.209 billion has been withdrawn from Coinbase in the last 48 hours, marking the largest ETH outflow from the exchange in 2024. Furthermore, the supply of ETH on exchanges has plummeted to an 8-year low. With the imminent start of ETH ETF trading, experts predict that the price of ETH could soar past $10,000. This news has sparked excitement and speculation within the crypto community as investors anticipate a potential surge in Ethereum’s value. Stay tuned for further updates on this developing story.

BREAKING  
 
336,000 ETH WORTH $1.209 BILLION WERE WITHDRAWN FROM COINBASE IN THE LAST 48 HOURS
 
THIS IS THE BIGGEST ETH OUTFLOW FROM COINBASE IN 2024
 
ALSO, ETH SUPPLY ON EXCHANGES HAVE ALREADY HIT A 8-YEAR LOW
 
WITH ETH ETF TRADING TO START SOON, $10,000+ ETH IS JUST A… pic.twitter.com/1uUWXPzlJF

— Ash Crypto (@Ashcryptoreal) June 13, 2024

Related Story.

In a recent turn of events, a staggering 336,000 ETH worth a jaw-dropping $1.209 billion were withdrawn from Coinbase in the last 48 hours. This massive outflow marks the biggest ETH withdrawal from Coinbase in 2024, causing quite a stir in the cryptocurrency world.

Moreover, it has been reported that the supply of ETH on exchanges has plummeted to an 8-year low. This significant decrease in available ETH on trading platforms has sparked speculation among investors and traders alike. With the impending start of ETH ETF trading, many are predicting that the price of ETH could soar to $10,000 or more in the near future.

The recent influx of institutional interest in Ethereum has played a significant role in driving up the demand for the cryptocurrency. Institutional investors are increasingly viewing Ethereum as a valuable asset with strong growth potential. This surge in institutional interest has led to a surge in the price of ETH, making it one of the hottest commodities in the digital asset market.

The decision to withdraw such a massive amount of ETH from Coinbase has left many wondering about the motives behind this move. Some speculate that large institutional investors are positioning themselves for the upcoming ETH ETF trading, while others believe that this could be a strategic move to capitalize on the anticipated surge in ETH prices.

As the cryptocurrency market continues to evolve and mature, the demand for digital assets like Ethereum is only expected to grow. With the introduction of ETH ETF trading on the horizon, many are optimistic about the future of Ethereum and its potential for long-term growth.

In conclusion, the recent withdrawal of 336,000 ETH from Coinbase, coupled with the dwindling supply of ETH on exchanges, highlights the increasing interest in Ethereum from institutional investors. With ETH ETF trading set to commence soon, the possibility of ETH reaching $10,000 or more is becoming more plausible by the day. As the cryptocurrency market continues to expand, Ethereum remains a top contender for investors looking to capitalize on the digital asset boom.

Sources:
– [Ash Crypto Twitter](https://twitter.com/Ashcryptoreal/status/1801231852193149366?ref_src=twsrc%5Etfw)