As Ethereum (ETH) trades within strike distances from the all-time high (ATH), chain-on-chain data shows that the second-largest cryptocurrency by market capitalization is experiencing an increase in purchasing pressure. The asset is currently priced in the $4,600 range, weighing just 4% of the ATH.
Ethereum Net Daily Outflows has reached 40,000
Over the past month, more than 1.2 million ETH have withdrawn from the crypto exchange, according to a crypto staple Quicktake post by contributor Burakkesmeci. Analysts suggested that Ethereum’s upward trend is likely to continue.
Related readings
For context, ETH has surged 53.8% last month, highlighting strong purchase pressure rise Institutional adoption. The property tripled from the price of around $1,500 from the local lowest recorded in April this year.
In their analysis, Burakkesmeci highlighted all exchanges Netflow Metric in Ethereum, which tracks total ETH inflows and outflows across all cryptocurrency exchanges. Data for 2025 shows that Ethereum’s 30-day simple moving average (SMA30) has plunged deep into negative territory.
For beginners, the SMA30 is the average value of the dataset, including Ethereum’s daily netflow, calculated over the most recent 30 days. Every day, the oldest data points are removed, the latest additions are added, and a smoother trendline is created that excludes short-term volatility.
As of August 12th, Ethereum’s SMA30 was -40,000 ETH, indicating an average daily spill of that volume over the past month. Such a large outflow suggests that investors are likely trading ETH in anticipation of further price increases.
The encrypted contributor also pointed to an increase in activity in Spot ETH Exchange Sales Funds (ETFs). Data from SOSOValue indicates that more Spot ETH ETFs were recorded $1.5 billion An influx of the week ending on August 12th.
In particular, these ETFs have seen uninterrupted positive weekly influx since May 16th, raising over $8 billion in nearly three months. The total net assets held by ETH ETFs currently stand at $27.6 billion, accounting for 4.7% of Ethereum’s market capitalization.
ETH Rally remains unharmed
Burakkesmeci concluded that as long as ETH’s SMA30 remains in the negative territory, its uptrend is likely to continue. They noted that ETH bullish momentum could last in the short term unless the metric is reversed into the positive region.
Related readings
Some analysts Make predictions If Bitcoin (BTC) surges to $150,000, ETH could reach $8,600. However, we expect a period of price consolidation after ETH breaks the current ATH.
Meanwhile, crypto market enthusiast Orbion has advice If you reach $5,800 to $6,000, you will be selling all ETH in October. At the press conference, ETH has traded at $4,684, up 6.8% over the past 24 hours.
Featured images from Unsplash, Cryptoquant and TradingView.com charts
