More Ethereum is moving to Coinbase, while ETH outflows from Binance are increasing: Shows last 7 days data

Are Ethereum holders on centralized exchanges moving from Binance to Coinbase? The last week's Ethereum inflow and outflow data shows an increase in ETH inflow at Coinbase and an increase in ETH outflow at Binance.

ETH inflow data - last 7 days.

According to the data from the Arkham Intelligence dashboard, 612,679 ETH worth $1.04 billion were moved to Binance, and at the same time, 671,810 ETH were moved out of the exchange, i.e., worth $1.14 billion. Binance sees a decrease of $100 million worth of ETH. However, the last 30 days' data shows both the inflow and outflow data nearly unchanged: $3.54 billion in outflow and $3.51 billion in inflow.

ETH inflow data - last 7 days.

Interestingly, both the Coinbase and Coinbase Prime exchanges saw a positive inflow of ETH to the exchanges in the last 7 days compared to the outflow:

Coinbase sees 183,303 ($313 million) ETH inflows and 191,932 ($328 million) ETH outflows, whereas Coinbase Prime sees 305,014 ($512 million) ETH inflows and 286,241 ($487.5 million) ETH outflows. Overall, Coinbase sees $825 million worth of ETH inflow and $815 million worth of ETH outflow. That's $10 million more in ETH than the previous week.

In this dipping scenario, Ethereum's moving out of centralized exchanges says something. Are people moving ETH to decentralized wallets to HODL them for the long term? Or staking them to earn rewards over the long term? Anyhow, Coinbase's exchange holdings are increasing, while at the same time, Binance customers' ETH holdings are decreasing.