Two notable movements were observed on-chain that attracted attention.
Over $398 million worth of Tether (USDT) flowed into Binance, while at the same time, more than $540 million worth of Ethereum (ETH) was withdrawn from centralized exchanges.
A $398 million USDT inflow into Binance suggests that large players are preparing capital for immediate use.
Whales Screener chart:
On the same day, Whales Screener detected $540 million worth of ETH withdrawn from centralized platforms, marking its largest single-day net withdrawal since early April.
Market Implications:
* USDT is being utilized to accumulate assets while prices remain within an accumulation zone, thereby enhancing purchasing power.
* ETH is being transferred out, indicating that whales who have previously acquired it are relocating their assets to cold storage or more productive environments.
Written by Amr Taha
