An Ethereum whale has transferred over 26,000 ETH equivalent to 74 million USD to centralized exchanges in the past three days, according to on-chain tracking by expert Yu Jin.
After withdrawing 155,000 ETH from staking, this whale transferred a total of 146,000 ETH to CEX within a month. The remaining balance is now only about 9,000 ETH, expected to complete the liquidity process in the coming days.
MAIN CONTENT
Ethereum whales transferred over 26,000 ETH (74 million USD) to centralized exchanges in 3 days.
The current ETH balance is 8,919 (26 million USD), expected to complete liquidity in 1-2 more transfers.
Who are Ethereum whales and what is the impact of their ETH transfer activities to exchanges?
According to Yu Jin's analysis, an experienced on-chain expert, Ethereum whales represent organizations or large investors that have a significant influence on the market. Transferring large amounts of ETH to centralized exchanges often signals a potential sell-off, directly affecting sentiment.
An Ethereum whale transferred over 26,000 ETH, equivalent to 74 million USD, to centralized exchanges within just three days.
After withdrawing 155,000 ETH from staking, this whale transferred a total of 146,000 ETH (371 million USD) to centralized exchanges within a month. Currently, there are only about 9,000 ETH left in the wallet, expected to complete the liquidity process in a few more transfers.
MAIN CONTENT
Ethereum whales transferred 26,000 ETH (74 million USD) to centralized exchanges in 3 days.
A total of 155,000 ETH has been withdrawn from staking, with 146,000 ETH (371 million USD) transferred to CEX in 1 month.
The remaining balance is 8,919 ETH (26 million USD), expected to complete liquidity after 1-2 more transfers.
Who are Ethereum whales and why is transferring ETH to exchanges important?
According to Yu Jin, a reputable on-chain analysis expert, Ethereum whales are often large organizations or investors with significant market influence. When they transfer large amounts of ETH to centralized exchanges, this is often a sign of preparing for a sell-off, directly impacting prices and investor sentiment.
What is the recent transfer activity of whales regarding ETH?
Data from early June shows that this whale withdrew a total of 155,000 ETH from staking through three different addresses. In the past month, more than 146,000 ETH, equivalent to 371 million USD, has been transferred to centralized exchanges, indicating a proactive move to liquidate cryptocurrency assets.
“Transferring a large amount of ETH to centralized exchanges is an important indicator of selling pressure in the market. This can significantly affect price trends in the short term.”
Yu Jin, On-chain analysis expert, July 2024
How much ETH does this whale still hold and what are the predictions for the next liquidity?
The current ETH balance in the whale's wallet is only 8,919 ETH, equivalent to about 26 million USD. Based on previous transfer trends, the expert predicts that in 1-2 more transfers, this whale will complete the liquidation of all remaining ETH.
“The gradual decrease in ETH balance in the wallet indicates that the whale is reducing its holdings. This is a common process when whales prepare to take profits or restructure their portfolios.”
Yu Jin, On-chain expert, July 2024
Frequently Asked Questions
Does whale activity of transferring ETH to exchanges affect cryptocurrency prices?
Yes, this often causes selling pressure and may lead to a decrease in ETH prices in the short term, depending on the amount transferred and the overall market conditions.
Why do whales withdraw ETH from staking and then transfer it to centralized exchanges?
This action is often aimed at liquidity, selling, or reinvesting in other opportunities in the cryptocurrency market.
How to effectively track Ethereum whale activities?
On-chain experts like Yu Jin use blockchain analysis tools to track ETH flows and decode market signals.
How do ETH whales affect the market in the long term?
Whales play a role in regulating liquidity, creating significant volatility but also contributing to stability if there is a reasonable portfolio management strategy.
Should we be concerned when whales sell ETH?
Don't worry too much if you don't understand the whole picture; whale selling also opens up buying opportunities for individual investors.
Source: https://tintucbitcoin.com/ca-voi-eth-chuyen-146-000-eth-cex/
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