A significant whale activity has surfaced on the Ethereum network, with a sizable transfer from a major exchange. The transaction involved the withdrawal of 7,000 ETH from Binance, which is valued at $13.55 million.
According to the on-chain tracking platform, Onchain Lens, the Ethereum withdrawals from the binance occurred in two separate transactions. The first transfer involved only 2,000 ETH, which is worth around $3.87 million, and took place roughly one hour before it was reported on the morning of February 20.
Secondly, on the same day, within about 22 minutes, a second and larger transaction moved approximately 5,000 ETH, worth about $9.68 million, from the same Binance exchange to the newly created wallet 0xf4aC5a.
Further, the data added that currently that whale wallet is holding 7,100 ETH, which is also worth of $13.74 million. As the large withdrawals from centralized exchanges have historically been seen positively, because these assets mostly have a lower chance of being sold right away when they are removed from exchanges.
Ethereum Market Movements
The transfers comes as Ethereum price trades lower with 0.29% down in the last 24 hours, is trading at $1, 966.52, with a weekly high of 0.34%, and the 24-hour trading volume is also down over 5%, as of writing the article, in borader sense, ETH is still weak, as it trades down over 33% from the last month. In addition, ETH is now 60.28% down from its ATH of $4,953.73, which was recorded on August 25, 2025.
Meanwhile, institutional interest in Ethereum appears muted, according to the SoSoValue data, where U.S.listed spot Ethereum exchange-traded funds recorded $130.19 million in outflows, marking its second day of outflows this week, but the cumulative total net inflow stands at $11.52 billion. Also, on the fundamentals side, Ethereum has released its protocol priorities for 2026, and the upcoming Glamsterdam upgrade is planned for the first half of 2026.
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