ETH slightly declined by 0.05% within 1 hour: minor net inflow on exchanges and balanced trading volume dominate short-term fluctuations

From 20:00 to 21:00 (UTC) on May 1, 2026, the ETH price experienced a slight decline, with a return of -0.05%. The price range was between 2302.91 and 2305.94 USDT, with an amplitude of 0.13%. During this period, market volatility was limited, buying and selling forces were relatively balanced, and no significant unilateral trend emerged.

The main driver of this price movement was a slight net inflow into exchanges. Data shows that ETH inflowed $247.8 million into exchanges and outflowed $245.0 million, resulting in a net inflow of approximately +$2.8 million. Although the scale was small, the positive value indicates that some investors deposited ETH into exchanges in preparation for selling, exerting a mild downward pressure on the price.

Additionally, the long-term holding trend diverged from short-term fluctuations. The 30-day net change in exchange holdings was -106,587.33 ETH, indicating that ETH has been generally flowing out of exchanges over the past 30 days. Investors tend to hold long-term or participate in on-chain activities, which limits short-term concentrated selling. Meanwhile, stablecoin net inflow was +$9.2 million, suggesting sufficient market liquidity and no signs of panic withdrawals. Trading volume remained balanced, with buy and sell forces relatively even, and no abnormal volatility was observed.

Current volatility risk is limited, but ongoing monitoring is necessary. In the short term, focus should be on whether exchange net inflow turns negative to positive, whether on-chain fund flows shift toward outflows, and how market depth changes. If large net inflows or sudden increases in trading volume occur later, they could trigger more significant fluctuations.