Exchanges saw a net inflow of 179k ETH in four days after the Shanghai upgrade, according to CryptoQuant. Investors transferring tokens to exchanges usually indicates they are preparing to sell, which may lead to a price decline. sndr_krisztian reports
), worth some $375 million in the four days after Ethereum’s Shanghai upgrade went live, according to crypto data firm CryptoQuant.shows that traders deposited 1,101,079 ETH to exchanges between April 13 and April 16, while only removing 921,579 tokens. This was the largest four-day net inflow in a month.
Investors transferring tokens to exchanges usually indicates they are preparing to sell, which may lead to a price decline.a long-awaited tech upgrade, also known as Shanghai. The upgrade has enabled withdrawals for the first time from Ethereum’s proof-of-stake blockchain, which has some 18 million ETH, worth $36 billion, locked in staking contracts.
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