Ethereum Flying off Exchanges While Bitcoin Moves in the Opposite Direction: Crypto Analytics Firm IntoTheBlock

Ethereum (ETH) is leaving crypto exchanges at a rapid rate this week, while Bitcoin (BTC) is moving in the opposition direction, according to Lucas Outumuro, the head of research at analytics firm IntoTheBlock.

Timeline of Bitcoin, Ethereum

The world's largest cryptocurrency Bitcoin (BTC) has delivered a strong price pump moving closer to $25,000. As of press time, BTC is trading 3% up at a price of $24,678 with a market cap of $472 billion.

The world's second-largest cryptocurrency Ethereum (ETH) has shot up another 5% in the last 24 hours hitting $2,000 levels for the first time since May 2022. The Ether (ETH) price has been rallying hard since the beginning of July and has gained nearly 100% over the last 40 days.

Cryptocurrency has given us an option to transfer money safely, quickly, and without excessive verification. It's safe to say that banks are somewhat obsolete in this aspect to those who prefer to perform financial transactions through blockchain technology.

With the start of sales of the world's largest asset manager, BlackRock's Blockchain exchange-traded fund, social media users recalled BlackRock's past anti-Bitcoin moves. They started that BlackRock had suspicions of manipulation.

Bullish start to the day! The crypto market has opened the day on a bullish note as major cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana and others are back on green signal. Bitcoin price has reclaimed the $24,000 price levels and is currently trading at $24,573 after a surge of 2.50% over the last 24hrs.

Popular Japanese bank Shinsei Bank is set to start offering customers rewards in $XRP or $BTC as part of a new campaign that is running from August 10 until October 31. Rewards in the campaign can go up to 8,000 Japanese Yen worth around $60 at the time of writing.

Recently, Bitcoin's [BTC] fight to reach $24,000 has been met with defeat. This was the case when it reached $24,800 on 11 August after an almost 10% uptick from Wednesday (10 August).

Bitcoin (CRYPTO: BTC) bulls regain optimism as the world's largest Investment manager BlackRock announced yesterday that they are launched a private trust offering US-based institutional clients exposure to spot Bitcoin. BlackRock said, "despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities.

On-chain data analytics platform Santiment, has pointed out that Ethereum's 80% increase over the past month and the significant market interest on it might be a good sign and can indicate that “things can continue”. ETH bull run just before the merge?

A top crypto trader and analyst is revealing how Bitcoin (BTC) could soar by nearly 50%. Crypto analyst Justin Bennett tells his 11,100 YouTube subscribers that if the price of Bitcoin closes above $24,200, the next target is $26,500.