Ethereum price prediction: 1.39 million ETH have left DeFi contracts

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: the contracts of the decentralised finance applications on Ethereum still hold 19.44 million ETH. Since the peak on October 26, 1.39 million ETH have been withdrawn, and for the first time in weeks that is not merely an arithmetic effect but an actual outflow.Add as a preferred source on GoogleFollow on Google NewsWhat is documented: the DeFi contracts on the Ethereum blockchain held 19.44 million ETH on Sunday afternoon, against 20.83 million on October 26. That is 1.39 million ETH less, a drop of 6.7 percent, and at today's price of $2,267 it corresponds to $3.16 billion. Our assessment follows further below: this is the first genuine outflow since late September, and it changes the starting position for the coming weeks more than the price level itself does. What separates this from the headlines of recent days is the unit of measurement. Anyone who measures the value of these deposits in dollars has seen a decline of $9.13 billion since the beginning of October, fr...