Santiment: ETH experiences the largest scale CEX withdrawal in nearly two years, long-term investors still full of confidence

ChainCatcher reports that according to a chart report released by the cryptocurrency market research institution Santiment, approximately 224,410 ETH were transferred out of trading platforms within 24 hours from February 8th to 9th, setting a historic milestone. This is the largest single-day net outflow of Ethereum from known trading platform wallets in the past 23 months.

Although this is more of a long-term indicator, it still sends a positive signal for the currently depressed Ethereum price. The outflow of assets from trading platforms usually indicates that investors are confident in holding for the long term. A reduction in tokens available for public sale on the market also means that there's less likelihood of large-scale sell-offs happening in future. It should be noted that Ethereum's performance up until 2025 will largely depend on whether Bitcoin can maintain stability and attempt to rebound back to its historical high point.