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Binance sees over 3M ETH withdrawn as investors shift to self-custody amid bullish staking outlook.

Market News
13 May 2026
Zycrypto
View Source
Bullish
pluang ai news

Since early this month, Binance has recorded withdrawals exceeding 3 million Ethereum (ETH), worth about $6.9 billion, signaling growing investor confidence in ETH. This trend reflects a move from exchange holdings to self-custody for long-term storage and staking, which offers passive rewards. Institutional investors like Tom Lee's BitMine are driving this shift, betting on ETH's staking potential despite current price consolidation below $2,350. Analysts note that such large outflows typically reduce sell pressure and may lead to price gains, but without strong retail participation, short-term bullish momentum could be limited.

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