Ether
(ETH)
holders
are
sending
assets
to
crypto
exchanges
at
the
fastest
pace
in
almost
four
months
following
the
crypto’s
rally
on
increasing
anticipation
of
a
U.S.
spot
exchange-traded
fund
approval.
Blockchain
data
by
Nansen
Intelligence
shows
Tuesday
net
inflows
to
exchanges
reached
81,840
ETH
worth
roughly
$306
million
at
current
prices,
the
highest
amount
in
a
day
since
January
23.
Tuesday
was
also
the
third
day
in
a
row
of
inflows,
marking
a
break
from
the
general
trend
of
decreasing
ETH
balance
on
exchanges,
Nansen
data
shows.
The
last
time
ETH
experienced
consecutive
days
of
inflows
to
exchanges
was
in
March,
near
this
year’s
peak
in
crypto
prices.
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Ether
(ETH)
exchange
flows
(Nansen)
Moving
assets
to
exchanges
usually
signal
intention
to
sell,
while
traders
normally
withdraw
tokens
from
platforms
if
they
want
to
hold
onto
the
purchases
for
a
longer
term.
Soaring
inflows
could
signal
short-term
profit-taking
after
ETH
surged
to
over
$3,800
from
around
$3,000
in
a
day,
noted
David
Shuttleworth,
research
partner
at
Anagram.
“My
sense
is
[that]
individuals
are
capturing
a
quick
30%
price
increase
that
occurred
in
less
than
24
hours,”
Shuttleworth
said
in
a
direct
message
on
X.
The
rally
happened
as
odds
for
a
U.S.
regulatory
nod
for
spot
ETH
ETFs
jumped
almost
overnight
with
regulators
asking
issuers
to
update
their
applications
after
months
of
lack
of
engagement.