Ethereum sees biggest exchange withdrawal in four months as October ETF losses top $1 billion

About 169,770 ETH left centralized exchanges on net in one day, Santiment reported Oct. 23 , the largest daily withdrawal in more than four months and worth about $407 million at the $2,400 reference price. The last bigger episode came June 5, when roughly 223,800 ETH left exchanges near what Santiment calls a local buying opportunity. The supply reading arrives as US spot Ethereum ETFs sit on more than $1 billion of net withdrawals through Oct. 22, and 27% of major altcoins have beaten Bitcoin over seven days. Exchange balances proxy for the coins immediately available for sale on centralized venues, and a large net withdrawal can reduce that inventory .

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