244K ETH withdrawn in a single day On the 25th of

244K ETH withdrawn in a single day

On the 25th of July—just a day after the USDT mint—over 244,000 ETH, worth nearly $900 million, were withdrawn from Coinbase.

Such large outflows are typically bullish, a shift from active trading to long-term holding.

When ETH leaves CEXes at this scale, it often means investors are moving assets to private wallets or cold storage, reducing the circulating supply.

This behavior usually precedes price appreciation, as lower sell-side pressure can trigger a supply crunch in the next move up.