A substantial $300 million in Ethereum (ETH) has left exchanges in the last 24 hours, sparking speculation about the altcoin's future price movements. According to data from Coin Metrics, this outflow is one of the largest in recent times, suggesting a possible accumulation of coins off exchanges. The analyst, PlanB, believes that this trend could be a sign of a breakout, potentially leading to a new all-time high for Ethereum.
This article is Bitcoincryptos' summary and analysis of reporting originally published by CryptoPotato. Read the full original report at the link above.
PlanB has been vocal about his bullish predictions for Ethereum, and this latest development only adds fuel to the fire. The analyst's target for Ethereum's price is around $10,000, although it's worth noting that this is a long-term prediction and not a short-term forecast.