Ethereum NUPL nears zero as Binance sees net ETH outflows
- —Ethereum NUPL fell to 0.0073, near the break-even level for holders
- —Exchanges saw a net 169,770 ETH ($407 million) leave on Oct. 23, a four-month high
- —US spot ETH ETFs bled $1.264 billion from Oct. 1 to Oct. 26
- —ETH trades near $2,307, down 0.37% in 24 hours
Why it matters: Exchange outflows cut sellable supply, but ETF redemptions point to weak institutional demand.
Source: Blockmedia