89,500 ETH Deployment Clue That Ethereum Price Breakout Is Coming?
Ethereum just witnessed one of its largest institutional ETH reallocations in months. Over 89,500 ETH, worth around $230 million, was taken off from Binance, OKX, and Kraken within a single day.
The two main players: Matrixport-linked wallets, moving out 40,734 ETH, and Abraxas Capital, exiting with 48,823 ETH.
On-chain logs from Hyperdash and Arkham show the funds didn’t stop in cold wallets. They were moved straight into DeFi protocols and staking wrappers like stETH and Aave.