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Ethereum Whale Moves Millions to Exchanges, Signaling Possible Sell-Off
Over the past three days, a major Ethereum whale or institutional investor has moved approximately 26,000 ETH worth around $74.11 million to centralized exchanges (CEXs). Data analyst Yu Yan's monitoring reveals that this whale, through three addresses, redeemed up to 155,000 ETH from staking and transferred about 146,000 ETH, valued at roughly $371 million, to CEXs over the course of a month starting from June 11. Currently, only 8,919 ETH, or about $2.62 million, remain in this whale's address, and it is expected that after one or two more transfers, this account will be cleared out. Additionally, the whale has another address that has redeemed approximately 59,916 ETH, worth about $155 million, and in the last six days, transferred 25,000 ETH (around $63.37 million) to exchanges such as HTX, Bybit, and OKX.
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AI Analysis
The recent movements of this Ethereum whale suggest a possible shift in market behavior. The large transfer of ETH to centralized exchanges often precedes a sell-off, as whales may be preparing to liq...
AI Recommendation
Given the substantial transfer of ETH to exchanges by a major whale, it is prudent for traders and investors to adopt a cautious stance. Such large-scale transfers can precede a downturn if the whale ...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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