Analysis: Ethereum exchange withdrawals hit a 3-year high, investors may continue to accumulate ETH.

BlockBeats news, September 21: CryptoQuant analyst Darkfost posted that over the past 3 months, ETH price rose from $1,510 to $2,650, an increase of over 75%, and broke through the April high. In contrast, Bitcoin has not yet sustainably held above its May high, and ETH's trend has temporarily taken the lead.

Darkfost pointed out that ETH withdrawal transaction volume on Binance recently reached its highest level in 3 years, with the monthly average number of ETH withdrawal transactions just surpassing 90,000, a high not seen since 2023 and about twice the level at the beginning of the year. A large amount of ETH being transferred out of trading platforms such as Binance usually means investors bought ETH and moved it into private custody solutions, behavior often associated with medium- to long-term holding and accumulation logic. At present, this accumulation trend is clearly stronger in ETH than in BTC.