According to WhaleAlert’s data, $262 million worth of Ethereum (ETH) has been transferred to Binance.
https://twitter. com/whale_alert/status/1475717535639216130
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Whale Alert detected a large amount of three different transactions. Accordingly, 65,986 ETH has been moved to the Binance exchange. The first 27,205 ETH transactions were made about 14 hours ago, while the two 26,665 ETH and 12,116 ETH transactions were made six hours later.
Positive NetFlow
According to data from Glassnode, Ethereum inflows show a NetFlow of +10 million dollars as it exceeds outflows.
NetFlow displays the net amount of a cryptocurrency entering and exiting centralized exchanges. The difference between input and output is used to calculate its value.
Since NetFlow is negative, it is seen that the exits from the stock market are more than the entries. In such cases, investors will check more Ethereum than they have deposited, which could mean an uptick for the asset.
On the other hand, positive NetFlow shows that exchanges are buying more Ethereum. A positive NetFlow can have a negative impact on the asset, as investors often transfer their money to exchanges to withdraw or invest in other cryptos.
Ethereum is up 4% in the last 24 hours, according to Coinecko data at the time of writing. It is trading at $3,917, down 3%.