224,410 ETH Worth $583 Million Withdrawn in One Day as XRP Fans Respond to Author’s ‘Retarded’ Remark About Ripple

224,410 ETH Worth $583 Million Taken Out of Exchanges in One Day

Over the weekend, a huge shift happened in the cryptocurrency market. A total of 224,410 ETH, worth about $583 million, was withdrawn from exchanges in just 24 hours. According to Santiment, an on-chain analytics firm, this is the largest Ethereum outflow in nearly two years. Large outflows like this can signal a change in market sentiment. It could affect Ethereum’s price, liquidity, and the overall market. For investors, this shift could shape the next steps for Ethereum’s future.

Crypto exchange outflows happen when assets are moved from exchanges to private wallets, cold storage, or DeFi protocols. Large outflows like this usually mean investors are holding for the long term. They take their ETH off exchanges, reducing the amount available for immediate selling. This shift shows a “HODLing” mindset. Investors expect the price to rise over time.

Some of these investors may transfer their ETH to staking, lending, or other DeFi platforms to earn yield. This indicates growing confidence in Ethereum’s ecosystem. Besides individual investors, institutions and whales also play a big role in these outflows. When institutional investors withdraw large amounts, they’re usually securing assets for the long term. This reduces market liquidity and could lead to higher prices in the future.

With fewer coins available for sale on exchanges, there’s less immediate selling pressure. Historically, this situation has often led to price increases. The last major ETH outflow occurred in 2023, just before a big rally. This recent movement may be another sign of a potential price surge or strategic repositioning

Why Is This Happening Now?

One major factor driving the current trend is the upcoming Ethereum Dencun upgrade. Expected in Q1 2025, this upgrade will improve scalability and lower transaction costs. It will make Ethereum more efficient, which is good for both retail and institutional investors. In the past, Ethereum upgrades have sparked strong market reactions as investors seek potential gains.

Another key factor is the rise in Ethereum staking. More than 27% of the total ETH supply is now staked. Many investors are moving their ETH from exchanges to stakes on the Beacon Chain, earning rewards. This reduces the available supply of ETH on exchanges.

The movement of funds into whale and institutional wallets also signals growing confidence in Ethereum’s future. Blockchain data shows that whale wallets holding over 10,000 ETH have been steadily accumulating. This adds to the bullish outlook for Ethereum.

Finally, market sentiment and supply dynamics are in Ethereum’s favor. Exchange reserves are at their lowest since mid-2023. This creates a supply shock, which could lead to higher prices as demand increases.

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Looking at past large ETH outflows, we see a clear link with price increases. In July 2022, a big outflow happened before Ethereum’s price rose from $1,000 to $2,000 ahead of the Merge upgrade. A similar pattern occurred in April 2023, when another wave of withdrawals pushed ETH above $2,500, driven by institutional buying. Based on these past trends, the current 2025 outflow could be a sign of strong bullish momentum in the months ahead.

If ETH outflows continue and demand rises from ETF expectations, staking, and DeFi growth, Ethereum could reach $3,500 to $4,000 in the short term. However, if the outflow is just whale repositioning with no lasting demand, ETH may stay between $2,800 and $3,200 before a major price movement. Additionally, macroeconomic factors like interest rate hikes or tightening liquidity in traditional markets could lower sentiment, limiting Ethereum’s price increase despite the reduced supply on exchanges.

The massive Ethereum outflow from exchanges marks a key moment in the market. It could either lead to a long-term rally or reflect short-term changes. Investors should keep a close eye on future outflows. Consistent withdrawals suggest that more investors are accumulating ETH for the long haul. Developments around Ethereum spot ETFs could drive ETH prices higher. Upgrades to the network, staking activity, and the broader economic environment will also affect Ethereum’s price. As Ethereum enters this critical phase, this outflow might signal the start of a new bullish trend. It could strengthen ETH’s value over time. The real question is whether investors are ready to seize the next opportunity.

XRP Fans Fire Back at Popular Author Over ‘Completely ignorant’ Remark About Ripple

Eric Yakes, the author of The 7th Property: Bitcoin and the Monetary Revolution, recently made some bold statements. He criticized Ripple and its XRP token. Yakes argued that Ripple is part of the problem Bitcoin was created to solve. He shared his views in a long post on X, drawing strong reactions from the XRP Army.

Eric Yakes strongly criticized Ripple and its XRP token, claiming they don’t have a real use case. He called it “completely irrational” and said he had to waste an hour researching Ripple before a speech at a TradFi conference. After his research, he concluded that Ripple’s tech and XRP tokenomics are like centralized money systems. He argued these go against the very idea behind Bitcoin. Bitcoin was created to remove centralized control in money, but Ripple doesn’t do that, in Yakes’ view.

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Yakes also criticized Ripple’s focus on remittances and central bank digital currencies (CBDCs). He found these goals shady. He pointed out that XRP is a volatile, centralized, and illiquid bridge currency. According to him, no one would use XRP when stablecoins and Bitcoin are better options for remittances. Yakes also said the real purpose of XRP is to trick retail investors into increasing the price. He believes Ripple uses marketing deals with banks and political lobbying to pump up the token. Finally, he argued that XRP has no true scarcity and that the ledger could easily be forked.

Eric Yakes also criticized RippleNet’s volume numbers. He pointed out that RippleNet reported a total settlement volume of $30 billion since its launch. However, this is much smaller compared to Tether’s $50 billion daily turnover and Bitcoin’s $40 billion. Yakes believes Ripple’s claims of large-scale adoption are misleading. He called it “a deceptive game of smoke and mirrors.”

Yakes argues that there is no reason to use XRP. He said the token’s foundation dumps on retail investors. It uses their money to finance political lobbying instead of being a true global settlement network bridge. He believes this is wrong and dishonest.

Yakes also questioned Ripple’s decentralization. He mentioned an hour-long network halt that occurred last week. He believes a main node operator interfered without wider coordination. The 35 other validators, according to him, cannot secure the XRP Ledger. This is because they aren’t paid to run nodes. He finished by saying that anyone supporting Ripple should find a higher purpose in life. Yakes made his disdain for Ripple and XRP very clear.

XRP Community Fires Back

The XRP community quickly responded to Yakes’ criticism. Many members raised counterarguments against his views. Former Ripple developer Matt Hamilton took issue with Yakes’ misunderstanding of Ripple and XRP. He pointed out that Ripple, the company, and XRP, the token, are different. Ripple is a company, like Strike, while XRP is a cryptocurrency, like Bitcoin. Hamilton explained that Ripple’s goals, such as remittances and CBDCs, apply to the company itself, not the XRP token.

Hamilton also addressed public misconceptions about Ripple’s partnerships. He explained that encouraging early adoption is common for young companies seeking liquidity. This, he argued, doesn’t take away from the actual utility of Ripple’s protocol.

Another XRP supporter, known as Vet on X, challenged Yakes directly. The vet claimed that Yakes wouldn’t survive a single debate on XRP Ledger versus Bitcoin. He stated that Yakes’ views were the “largest collection of misinformation or bad understanding” about both Bitcoin and the XRP Ledger. This highlighted the strong disagreements within the XRP community over Yakes’ commentary.