Ethereum Blasts Past $1,900 as On-Chain Signals Point to Institutional Buying
Ethereum has experienced a price increase, trading at $1,989, reflecting a 6.4% rise over the past week and a 6.7% increase in the last 24 hours. This rebound follows a period of stagnation and is supported by increased investor interest and liquidity activity. Significant outflows from exchanges, particularly over 85,000 ETH withdrawn from Binance, indicate reduced sell-side liquidity and a tendency for investors to hold assets. Additionally, Tether Treasury minted $1 billion in USDT, suggesting potential capital deployment into the crypto market. Increased stablecoin inflows to Binance, particularly on May 6, signal investor readiness to purchase volatile assets like ETH. Binance's growing stablecoin reserves enhance market activity and may catalyze further price movements in major cryptocurrencies.
