$1 Billion Worth of Ethereum Tokens Exited Crypto Exchanges in Weeks

Ethereum, the second largest cryptocurrency by market value, has experienced significant outflows from exchanges, with over $1 billion removed in the past three weeks, according to IntoTheBlock. This indicates that long-term investors are moving funds from centralized exchanges to private wallets, potentially as a vote of confidence in the cryptocurrency's long-term prospects.

Ethereum's price has fallen by 1.39% in the last 24 hours, and fees have risen alongside market volatility and DeFi volumes.