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Home»ALTCOIN NEWS»$3,000,000,000 of Ethereum has left cryptocurrency exchanges since the SEC approved the listing of the ETH ETF, analysts say.
ALTCOIN NEWS

$3,000,000,000 of Ethereum has left cryptocurrency exchanges since the SEC approved the listing of the ETH ETF, analysts say.

By Crypto FlexsJune 5, 20242 Mins Read
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,000,000,000 of Ethereum has left cryptocurrency exchanges since the SEC approved the listing of the ETH ETF, analysts say.
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Cryptocurrency exchanges have seen massive Ethereum outflows following the approval of the listing of a spot ETH exchange-traded fund, an on-chain analyst and trader said.

Ali Martinez told his 63,500 followers on social media platform

Source: Ali Martinez/X

As of this writing, Ethereum is trading at $3,776, down slightly over the past day.

Turning to fellow layer-1 protocol Toncoin (TON), the analyst said deep-pocketed investors have been busy moving the altcoin.

“The number of large Toncoin transactions ($100,000 or more) surged 237.5% in 24 hours!

This significant increase in TON whale activity suggests a strategic shift in investment and location.”

video
Source: Ali Martinez/X

As of this writing, TON is trading at $6.81, down 1.24% in the last 24 hours.

Looking at Bitcoin (BTC), Martinez said the cryptocurrency king could hit a new all-time high if it trades above its diagonal resistance line.

“Bitcoin appears to be moving out of its symmetrical triangle! A sustained close above the $69,330 resistance level could push BTC up to $74,400.”

video
Source: Ali Martinez/X

As of this writing, the value of Bitcoin is $68,938, up 1.56% over the past day.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created: DALLE3

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