Ethereum drops, but whales scoop 540 mln ETH – Accumulating or exiting?
The post Ethereum drops, but whales scoop 540 mln ETH – Accumulating or exiting? appeared on BitcoinEthereumNews.com.
Whale wallets increased holdings to 16.793 million ETH as Exchange Netflows showed a sharp rise in outflows. A $398M USDT inflow and $540M ETH outflow on the same day signal aggressive repositioning by large investors. Ethereum [ETH] fell to $2,492, shedding 3.73% in 24 hours, following a rejection near the $2,800 mark. This pullback unfolded even as whale wallets ramped up accumulation and stablecoin inflows surged, hinting at a strategic repositioning behind the scenes. However, short-term sentiment remains fragile. While some traders appear to be exiting with losses, on-chain activity shows strategic buildup. This divergence creates uncertainty around ETH’s next move as key technical levels come into play. Doubling down or signaling caution? Whale wallets holding 10K–100K ETH have increased their holdings to 16.793 million ETH, suggesting strong accumulation. At the same time, Exchange Netflows showed a sharp 84.22% weekly spike in ETH outflows, reinforcing a bullish long-term view. However, one whale recently sold 10,543 ETH at $2,476, incurring a $2M loss in just two days. This solitary dump, while eye-catching, doesn’t necessarily undercut the broader accumulation trend. Having said that, it does reflect the ongoing unease in a volatile market. Source: CryptoQuant What does $398M in USDT and $540M in ETH signal? On-chain data revealed a significant shift: $398 million worth of Tether (USDT) flowed into Binance, while $540 million worth of ETH was withdrawn from centralized exchanges on the same day. This marks the largest single-day ETH net withdrawal since early April, signaling that large holders are likely moving assets into cold storage or staking environments. Meanwhile, the massive USDT inflow suggests whales are arming themselves with dry powder to accumulate more ETH as it trades within a perceived accumulation range. Source: CryptoQuant Of course, this dual move hints at more than chance. It suggests whales are circling…
Filed under: News - @ May 17, 2025 1:21 pm