Who is behind the movement of $408 million worth of ETH to exchanges?
Blockchain analysts have detected a significant movement of 167,855 ETH (worth approximately $408 million) from multiple addresses into a single wallet, which is gradually being transferred to exchanges. In just the last two days, this large holder deposited 70,739 ETH (about $174 million) into the wallet, while still holding 97,115 ETH (valued at around $237 million) that has not yet been moved.
Consolidating funds from several wallets before sending them to exchanges is a typical on-chain indicator of an entity potentially preparing for a large sale, though other purposes like storage, collateral, or OTC settlements are also possible. The implied price of the moved ETH is around $2,430 per coin, aligning with pre-end-of-August trading levels, suggesting the holder accumulated this position from various sources.
The scale is notable even for "whale watching," and the rapid transfer of such a large amount to exchanges in a short period indicates an active strategy. If the remaining holdings are also moved, it would roughly double the volume already sent to order books.
This follows a broader 2023 trend of older, dormant Ethereum "whales" awakening and moving substantial holdings toward liquidity. Should the wallet owner proceed with a full outflow, it could become one of the largest single-wallet ETH movements of the year.
cryptonews.ru09/01 14:01
