Ethereum (ETH) has seen a significant outflow of 31.6 million tokens from exchanges in February, marking the highest level since November 2023. This trend reflects growing investor confidence in holding the asset offline as prices trade sideways near $2,000, which is 60% below last year’s peak. Data from CryptoQuant highlights that Binance accounted for nearly half of the total withdrawals, with 14.45 million ETH leaving the platform. Other major exchanges like OKX and Kraken also recorded substantial outflows, with 3.83 million and 1.04 million ETH respectively. The movement of assets away from centralized exchanges has continued into early March, signaling a shift toward private wallets. Analysts suggest this behavior may indicate long-term holding conviction or strategic reallocation of positions amid volatile market conditions. Despite recent geopolitical tensions, including military conflicts, there has been no widespread panic selling. Instead, investors have continued to accumulate ETH, viewing it as a stable store of value during uncertainty. Exchange reserves for ETH have reached a record low in March, with balances dropping from 16.8 million ETH at the start of the year to 15.9 million ETH. This decline underscores the growing preference for offline storage, as investors prioritize security and autonomy over centralized platforms. The trend aligns with broader concerns about institutional control and surveillance, prompting a reevaluation of Ethereum’s role in the digital economy. Ethereum co-founder Vitalik Buterin has emphasized the need for the platform to evolve beyond its current capabilities. In a recent post, he criticized the lack of meaningful contributions from Ethereum to improve people’s lives amid rising geopolitical instability, corporate control, and censorship.#ethereum #binance #okx #kraken #vitalik_buterin
