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platform Lookonchain reported that large holders, often referred to as whales in the cryptocurrency space, have withdrawn substantial amounts of Ethereum from exchanges.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.
Key Facts
Story Timeline
2 events- 1 hour ago
A newly created wallet 0xA605 withdrew 2,000 ETH valued at $4.58 million from Binance.
1 source@lookonchain - 5 hours ago
Wallet 0xE5eB withdrew 4,361 ETH worth $9.98 million from Kraken after three months of inactivity.
1 source@lookonchain
Potential Impact
- 01
The withdrawals could reduce selling pressure on Ethereum by moving supply off exchanges.
- 02
Increased whale activity might influence short-term Ethereum price volatility.
- 03
Such transactions may prompt further monitoring by cryptocurrency investors and analysts.
Transparency Panel
Related Stories
thecanary.coRubio Calls Iran's Strait of Hormuz Control Economic Nuclear Weapon
US Secretary of State Marco Rubio described Iran's use of the Strait of Hormuz as an 'economic nuclear weapon' against the world, accusing Iran of holding 20% of global energy hostage. House Majority Whip Tom Emmer stated that preventing Iran from obtaining a nuclear weapon remai…
nbcnews.comFederal Reserve to Hold Meeting Amid Pending Leadership Change
The Federal Reserve is scheduled to meet this week, with a news conference on Wednesday expected to address potential changes in leadership. The Senate Banking Committee will vote on President Trump's nominee, Kevin Warsh, to replace Fed Chair Jerome Powell. Powell may indicate i…
upi.comIran Proposes Reopening Strait of Hormuz for U.S. Lifting Sanctions, Ending War
Iran has offered to reopen the Strait of Hormuz if the U.S. lifts its blockade and ends the ongoing war, while postponing nuclear program discussions. The proposal, relayed through Pakistan, comes amid a fragile ceasefire and rising global oil prices. President Donald Trump indic…