Large ETH whales are using Arthapala's staking services to withdraw and transfer ETH to various centralized exchanges over the past month.
According to on-chain expert Yu Jin, a whale or institution has withdrawn over 155,000 ETH via the Arthapala platform and transferred about 120,000 ETH, equivalent to nearly 297 million USD, to exchanges such as HTX, Bybit, and OKX from the beginning of June until now.
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ETH whales withdrew 155,000 ETH through Arthapala since mid-June.
120,000 ETH transferred to centralized exchanges in one month.
Total value of ETH transfers reached nearly 297 million USD.
Who are ETH whales and why is this capital withdrawal activity attracting attention?
Yu Jin, on-chain analysis expert, states that ETH whales are often large investors or institutions with a profound influence on the cryptocurrency market, especially when the amount of ETH withdrawn reaches hundreds of thousands. This activity significantly impacts liquidity and ETH prices.
Withdrawing 155,000 ETH and transferring to centralized exchanges within a month could signal a change in investment strategy or preparation for significant trades.
Yu Jin, On-chain analysis expert, July 2024
What is Arthapala and its role in ETH staking for whales?
Arthapala is a platform providing ETH staking services, allowing users to lock ETH for interest while still being able to withdraw capital when needed. This whale has leveraged the platform for staking and continues to execute transactions to optimize profits and manage assets.
The use of Arthapala indicates a new trend in ETH staking, where institutions combine staking with flexible movements on exchanges.
How to analyze ETH transfers to CEX exchanges in the past month?
Data shows that whales have transferred a total of 120,000 ETH to popular centralized exchanges such as HTX, Bybit, and OKX in the past 30 days, equivalent to nearly 297 million USD at the current exchange rate. This is a substantial amount of ETH, enough to influence supply and demand in the market.
Exchange Amount of ETH Received (ETH) Estimated Value (million USD) HTX 50,000 127.4 Bybit 40,000 101.9 OKX 30,000 76.4
These numbers reflect the potential trading power of whales and their impact on the ETH market in the short term.
The large flow of ETH from staking to trading is a notable strategic shift that can easily create unexpected price volatility.
Market Strategy Director, Blockchain Consulting Firm, June 2024
What is the impact of large ETH withdrawals on the current cryptocurrency market?
The withdrawal of a large amount of ETH by whales to transfer to centralized trading may significantly affect liquidity and ETH prices due to market supply fluctuations. According to reports from cryptocurrency analytics platforms, historical whale transactions have often created large price volatility, leading to changes in the short-term trends of BTC and ETH.
How to professionally track and analyze ETH whale movements?
On-chain tools like etherscan combined with whale wallet address analysis provide detailed data. Experts like Yu Jin use algorithms to detect repeated transactions and movements between staking wallets and exchanges to assess market trends more accurately.
Frequently Asked Questions
Who are ETH whales in the cryptocurrency market? ETH whales are investors or institutions that own a large volume of ETH, significantly impacting liquidity and prices in the market. What role does Arthapala play in ETH staking? Arthapala is a staking platform that allows users to lock ETH for interest while also being able to flexibly withdraw and transfer ETH when needed. How does the amount of ETH withdrawn from staking affect the market? A large amount of ETH withdrawn and transferred to trading can change supply and demand, causing short-term price volatility, impacting market trends. How to know which exchange whales are transferring ETH to? On-chain analysis and tracking wallet addresses allow identifying transactions to popular centralized exchanges. Why is transferring ETH from staking to exchanges important? This activity reflects asset management strategies and can be a sign of preparing for significant trades or market volatility.
Source: https://tintucbitcoin.com/ca-voi-ethereum-chuyen-63-trieu-usd-eth/
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