Ethereum

2024

Million

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In a remarkable display of confidence in Ethereum (ETH), cryptocurrency whales have collectively&nbsp;<a href="https://x.com/lookonchain/status/1761951509087240517?s=20" rel="noopener noreferrer nofollow">withdrawn</a> approximately $64 million worth of ETH from major exchanges, as reported by Lookonchain. This significant activity comes amid a notable increase in the price of ETH, further fueling speculation and interest in the cryptocurrency market.
Lookonchain revealed that a substantial sum of ETH has been moved from the clutches of exchanges to more secure environments. Specifically, an Ethereum address labeled 0x8B94 has withdrawn a staggering 14,632 ETH, valued at roughly $45.5 million, from Binance. This enormous withdrawal was not left to sit idly; instead, the funds have been actively staked within the past six days.
<blockquote>
 Whales are accumulating <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>!0x8B94 withdrew 14,632 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($45.5M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> and staked it in the past 6 days.<a href="https://t.co/bywnrZ2glt" rel="noopener noreferrer nofollow">https://t.co/bywnrZ2glt</a>2 fresh whale wallets withdrew 6K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($18.7M) from <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a> in the past 2 days.<a href="https://t.co/0kEvOmiv3h" rel="noopener noreferrer nofollow">https://t.co/0kEvOmiv3h</a><a href="https://t.co/90fqjJXsSu" rel="noopener noreferrer nofollow">https://t.co/90fqjJXsSu</a> <a href="https://t.co/J0ewl8S3OX" rel="noopener noreferrer nofollow">pic.twitter.com/J0ewl8S3OX</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1761951509087240517?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 26, 2024</a>
</blockquote>
Furthermore, the analysis highlighted the emergence of two new whale wallets, which have collectively moved 6,000 ETH, equivalent to $18.7 million, from Kraken to unknown destinations over the past two days. This movement indicates a growing trend among large-scale investors to secure large amounts of Ethereum outside of exchange platforms.
<h2 dir="ltr" id="ethereum-whales-go-bullish">Ethereum whales go bullish</h2>
The current market dynamics offer a backdrop to these substantial transactions. Ethereum's price&nbsp;<a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">stands</a> at $3,059, marking a 1.37% increase in the last 24 hours and an impressive 38.26% rise over the last 30 days. Additionally, Ethereum's trading volume has surged by 9.77%, reaching $13,810,498,210 in the same 24-hour period, highlighting increased activity and interest in the cryptocurrency.
As previously&nbsp;<a href="https://u.today/justin-suns-alleged-wallet-continues-ethereum-buying-spree-with-41m-purchase" rel="noopener noreferrer nofollow">reported</a> by U.Today, a wallet suspected to be associated with blockchain magnate Justin Sun has recently acquired an impressive 13,780 ETH, valued at approximately $41.24 million, from Binance. This purchase is part of a larger pattern, with the alleged Justin Sun wallet amassing a total of 168,369 ETH, worth around $487 million, from Binance and DEX in less than two weeks.
These&nbsp;<a href="https://u.today/ethereum-eth-pos-might-be-due-for-major-revamp-research" rel="noopener noreferrer nofollow">developments</a> point to a growing sentiment of optimism among Ethereum investors, particularly the so-called "whales" who hold substantial amounts of cryptocurrency. As these large-scale investors continue to pull significant amounts of ETH from exchanges, the market watches closely. The implications of these moves could signal a bullish outlook for Ethereum's future.

$64 Million in Ethereum Pulled From Exchanges by Whales as Price Jumps

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