Analyst Insights: Whales Move $64 Million Worth of Ethereum Off Exchanges
Three large Ethereum holders, also known as “whales,” have withdrawn a total of over $64 million worth of the cryptocurrency from centralized exchanges in the last six days. Here’s what you need to know about the recent whale activity in the Ethereum ecosystem:
Big Withdrawals and Long-Term Bullish Stance 🐋
- One whale withdrew 14,632 ETH (~$45.5 million) from Binance
- This whale staked the entire amount, suggesting a long-term bullish outlook on Ethereum
Additional Withdrawals from Kraken 🐋
- Two other whale wallets moved a combined 6,000 ETH (~$18.7 million) from Kraken
- Another whale bought 2,000 ETH (~$6.2 million) from Kraken in a single day
Resurfacing of a Long-Time Ethereum Investor 🐋
- An early Ethereum ICO participant moved half of their ETH stash to Kraken after nearly 9 years of inactivity
- The investor bought 3,465 ETH at $0.31/token during the ICO, now worth over $11 million
Hot Take: Bullish Trends for Ethereum Ahead
With Ethereum’s supply decreasing, the approval of a spot Ether ETF on the horizon, and the proto-danksharding upgrade approaching, the outlook for Ethereum remains positive. Stay tuned for more developments in the Ethereum ecosystem!
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