Record $1.8 Billion in ETH Withdrawn from Exchanges: A Surge Not Seen Since December 2022

According to a recent report by COINOTAG News on March 10th, IntoTheBlock has highlighted a significant development in the Ethereum ecosystem. In a notable event, approximately $1.8 billion worth of ETH was withdrawn from various cryptocurrency exchanges last week. This figure represents the highest weekly outflow recorded since December 2022, indicating a potential shift in market sentiment among investors. Such a substantial withdrawal may suggest that users are increasingly favoring self-custody options, as they seek to enhance security and control over their assets amid prevailing market fluctuations. The growing trend of on-chain activity and substantial ETH withdrawals could signal a cautious approach from investors, possibly reflecting broader concerns regarding the market landscape. As Ethereum continues to evolve, monitoring these outflow trends will be essential for understanding market dynamics and investor confidence.