[Analysis: Ethereum Decline Sees Surge in Token Transfer Volume, Extreme Activity May Signal Seller Exhaustion] BlockBeats reported on February 11 that CryptoOnchain posted on social media, stating that when Ethereum's price dropped to the $2,000 range, Token Transfers (14-day moving average) spiked sharply to 2.75 million, the highest level since August 2025. This surge indicates panic selling and a 'major washout' of weak hands. Historical data suggests that such extreme activity often signals seller exhaustion and may form a local bottom. It is reported that Token Transfers (14-day moving average) is an on-chain data metric used to observe the trend and intensity of token transfer activity on the Ethereum (or related blockchain) network. It typically refers to the simple moving average of all ERC-20 and similar standard token transfer transactions on the network over the past 14 days.