Massive Ethereum Outflow from Exchanges

A report from on-chain data aggregator Sentora (formerly IntoTheBlock) indicates a significant withdrawal of Ethereum from cryptocurrency exchanges occurring in just one day.

Market sentiment is becoming bullish, with investors eagerly purchasing ETH, while open interest in ETH futures has reached a record high.

Investors Craving ETH Withdraw from Exchanges

Sentora tweeted that on Wednesday, 140,120 ETH, valued at approximately $393 million, was withdrawn. This marks the largest single-day withdrawal in over a month.

> “Yesterday, more than 140,000 ETH, worth roughly $393 million, flowed out of exchanges, marking the largest single-day withdrawal in over a month.”
> — Sentora (@SentoraHQ) June 12, 2025

This outflow coincided with Ethereum’s price surging above $2,760. The last significant withdrawal occurred on May 12 when ETH was around $2,520 per coin.

ETH Futures Open Interest Hits $20 Billion

Glassnode has reported that Ethereum futures open interest (OI) surged to a record $20 billion following a recent spike. Traders are increasingly leveraging their positions using stablecoins like USDT and USDC.

Despite a 4.31% decline in ETH price recently, indicating a slight pullback from the $2,800 mark, the rise in OI signals increased trader speculation. As of now, ETH is priced at $2,745.

> “$ETH futures open interest (cash-margined) just hit a new all-time high – topping $20B. Despite a slight pullback from the $2.8K levels, leverage continues to build as traders load up using stablecoins.”
> — glassnode (@glassnode) June 12, 2025

Smart Whale Buys Back ETH After Selling

Analytics account @spotonchain reported that a large whale, likely a financial institution, sold ETH recently but decided to buy back some of the coins the following day.

> “The smart institution that made $30.45M from $ETH is still bullish—buying back just a day after selling!”

On June 10, the whale sold 30,000 ETH for $78.63 million, locking in a $6.72 million profit after just 15 days. However, as the price rose, this whale purchased 15,000 ETH at an average price of $2,818 each, up from the $2,621 at which they sold, which still reflects bullish sentiment despite market fluctuations.