Blockchain Data Shows Large Ethereum Withdrawals from Exchanges
Blockchain analytics firm Lookonchain reported significant Ethereum withdrawals by large holders from major exchanges. One wallet withdrew 4,361 ETH worth approximately $9.98 million from Kraken after a period of inactivity. Another newly created wallet withdrew 2,000 ETH valued at about $4.58 million from Binance.
europeanbusinessreview.comanalytics platform Lookonchain reported that large holders, often referred to as whales in the cryptocurrency space, have withdrawn substantial amounts of Ethereum from exchanges. The activity involves transfers to private wallets, which can indicate accumulation or preparation for other uses.
to Lookonchain, a wallet identified as 0xE5eB withdrew 4,361 ETH, valued at $9.98 million, from the Kraken exchange about five hours ago. This withdrawal followed three months of inactivity for the wallet. Separately, a newly created wallet labeled 0xA605 withdrew 2,000 ETH, worth $4.58 million, from the Binance exchange approximately one hour ago.
large withdrawals from exchanges to personal wallets are sometimes monitored by investors as potential signals of market sentiment. Ethereum, the second-largest cryptocurrency by market capitalization, has seen varying trading volumes in recent months. Lookonchain tracks on-chain data to identify significant transactions involving major cryptocurrencies like ETH.
