Over 1 million ETH withdrawn from centralized exchanges in the past month.
5.5% drop in total ETH held on exchanges.
May 12marked the largest single-day whale accumulation in Ethereum’s history.
A Golden Cross technical pattern hints at a potential rally toward $3,000.
Whale wallets absorbed 325,000 ETH in one day—a record-breaking move.
On-chain trends show a shift from trading to long-term holding, post-Pectra upgrade.
Exchange Reserves Hit New Lows
According to Cryptorank, Ethereum reserves on centralized exchanges have dropped from over 18 million to around 17 million ETH—a 5.5% decrease—in just one month. This massive outflow signals a growing investor preference for holding rather than trading ETH.
“Over the past month, more than 1 million ETH have been withdrawn from centralized exchanges… suggesting that users are increasingly choosing to accumulate Ethereum rather than trade it,” Cryptorank reported.
Data from CryptoQuant reveals that Binance alone saw over 300,000 ETH withdrawn in the past month. Since January, its outflows have totaled more than 800,000 ETH, coinciding with both price dips (below $1,400 in April) and rebounds (above $2,400 in May).
This inverse relationship between falling exchange reserves and rising prices underscores a bullish supply-demand dynamic: less ETH on exchanges means tighter liquidity, which often leads to price surges.
May 12: The Whale Stampede
May 12 witnessed an unprecedented accumulation event—325,000 ETH scooped up by whale wallets in a single day. This is the largest one-day ETH accumulation ever recorded, according to CryptoQuant.
Whale investors typically transfer ETH to cold wallets for long-term holding, further reducing the circulating supply. This signals strong confidence in Ethereum’s future, especially following the Pectra upgrade.
Adding to the optimism, Ethereum’s chart has flashed a Golden Cross—a bullish technical indicator where the 50-day moving average crosses above the 200-day average. This often precedes strong upward momentum, with analysts now eyeing a potential rally toward $3,000.
Final Thoughts
With fundamental shifts in investor behavior, shrinking exchange reserves, and record-setting whale accumulation, Ethereum is entering a new phase of bullish momentum. Long-term holders appear more confident than ever, and if these trends continue, ETH could be on the verge of a major breakout.
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