From 10:30 to 10:45 on March 18, 2026 (UTC), ETH experienced a 15-minute return of -0.69%, with price fluctuations ranging from 2313.09 to 2331.7 USDT, and an amplitude of 0.80%. Short-term market volatility intensified, attention increased, and selling pressure clearly dominated the trend.
The main driver of this movement was a significant increase in on-chain fund outflows and concentrated large-scale sell-offs: on-chain statistics show that during this period, total ETH transfers increased by 18% compared to the previous period. The number of large transfers exceeding 500 ETH per transaction rose by 50% to 12 transactions, indicating large holders and institutional funds concentrated outflows. Meanwhile, net outflows from major trading platforms increased by 35% to 2900 ETH, with persistent net outflows fueling seller sentiment. Quantitative data reflect that large market funds moved short-term, directly suppressing price performance.
Additionally, exchange trading volume rapidly rose to 21,000 ETH, with a sell/buy order ratio of 1.37, further amplifying downward price fluctuations. On-chain swap data shows that the proportion of ETH exchanged for stablecoins increased to 41%, up 12 percentage points from the previous period. Coupled with liquidity pressure on DEXs and CEXs, some holders are inclined toward risk aversion. ETH deposits in DeFi protocols decreased while withdrawals increased, and the number of active on-chain wallets also rose, indicating a dispersal of holdings and an ongoing capital outflow trend.
Current volatility risks mainly stem from large holder sell pressure and continuous fund outflows. Short-term focus should be on on-chain large transfer movements, exchange sell pressure, ETH-to-stablecoin exchange ratios, and other quantitative indicators, as well as market liquidity levels. In the absence of macro unexpected events, volatility risks are more driven by fund structure and flow patterns. Caution is advised regarding further large sell orders and additional capital outflows. For more real-time market data and fund movements, please stay tuned to on-chain data and market news updates.
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