Over the past week, cryptocurrency investors pulled 330,000 Ethereum tokens from centralized exchanges.
That’s roughly $660 million worth of assets.
On-chain data from Santiment shared by crypto analyst Ali Charts, shows the outflows happened over seven days ending February 11, 2026.
Ethereum is now trading below the $2,000 support level.
Santiment’s exchange balance tracking shows a drop in Ethereum holdings on centralized platforms.
They fell from 8.34 million tokens on February 6 to 8.01 million by February 11, that’s 330,000 ETH gone in six days—a 3.95% cut in exchange inventory.
The 330,000 ETH outflow equals roughly $660 million at ETH’s average price of $2,000 during the withdrawal period.
ETH trades around $1,960 on February 12. The drop in exchange balance shows investors moving tokens to private wallets and cold storage.
The falling exchange inventory points to a shift. Investors are slightly leaving the idea of active trading and looking towards longer-term holding.
Ethereum was trading above $2,700 when February 2026 started; now it has fallen below the $2,000 psychological support level. That’s a sharp reversal from late January highs, and institutional products are mirroring the selling pressure.
From January 30 to February 11, ETH dropped from $2,700 to $1,941.71. That’s a 28% decline in less than two weeks.
On February 11, Ethereum spot ETFs recorded $129 million in net outflows, according to SoSoValue data. Fidelity’s FETH led with $67.1 million, followed by BlackRock’s ETHA at $29.4 million.
There was a similar withdrawal pattern in February 2025. Between February 8 and 9, 224,410 ETH exited exchanges—the largest outflow in nearly two years, according to Santiment data.
The current exchange outflows are happening against sustained price weakness and institutional redemptions.
Transferring 330,000 ETH out of exchanges reduces the direct availability of cryptocurrency for sale on the market. Typically, when traders move tokens to private wallets and cold storage, it indicates the intention to hold the assets for the long term rather than to actively trade them.
Lower exchange inventory can tighten supply conditions if buying demand picks up. But that alone doesn’t determine where price goes next.
In February 2025, 224,410 ETH flowed out during continued price consolidation. Large withdrawals don’t guarantee immediate recovery.
The current outflows line up with ETH testing the $2,000 support zone in what looks like a battle for control at this price level.
The pattern shows reduced selling pressure. Yet it’s playing out against sustained institutional ETF outflows.
Despite the exchange outflows, Ethereum remains under pressure. It is trading near multi-month lows, multiple technical indicators are flashing red, and further downside could be a reality.
Ethereum’s technical indicators lean heavily toward a strong sell, according to Bitget. 17 indicators signal sell, 6 stay neutral, and just 2 points to buy.
Moving averages show unanimous bearish sentiment. 14 sit on the sell side, only the IBL stays neutral, and none move to the buy side.
Ali Charts pointed out essential support levels for Ethereum that continue to stretch down to $1,881, $1,584, and $1,238.
Although the signals and exchange outflows seem to indicate that there will be more negative results, changes in market conditions may influence the direction.
