HTX moved 160,600 ETH to Binance in a week, showing deliberate fund reallocations and high exchange activity.
New wallets and firms like SharpLinkGaming are aggressively accumulating ETH, indicating rising large holder interest.
Despite $100M+ outflows, Ethereum holds above $3,500 with 87% of holders in profit and 56% supply held by large entities.
More than $181 million in Ethereum was transferred from HTX to Binance in a single day. The transfer involved 50,600 ETH that were first redeemed from Aave by the HTX Recovery wallet, then sent to the HTX hot wallet, and finally moved to Binance.
This transfer adds to a broader trend, as over the past week, HTX has shifted 160,600 ETH, valued at roughly $518 million, to Binance using the same process. The consistent volume of transfers suggests deliberate fund reallocations and concentrated wallet activities.
Multiple Wallets Accumulating ETH
Alongside the large HTX transfers, Lookonchain data reported further Ethereum movement. Two newly created wallets withdrew a combined 22,434 ETH, worth approximately $79.5 million, from Kraken.
Additionally, SharpLinkGaming acquired 4,904 ETH, valued at around $17.45 million. The same entity has accumulated 157,140 ETH at an average price of $3,136, totaling nearly $493 million since July 1.
These activities indicate sustained interest in Ethereum from large holders, particularly those creating new wallets. Although this pattern has appeared multiple times over the last month, accumulation has intensified in recent days.
Strong Outflow Pressure but Price Holds Steady
Data from IntoTheBlock shows Ethereum's current market price at $3,584.75, a 24 hour gain of 0.43%. Ethereum market cap is at $430.87 billion. The share of holders in profit is high, with 87% currently above their entry price, while 4% are at break even and 8% in loss positions.
Over the past seven days, Ethereum's large transaction volume reached $93 billion, while netflows remained negative at −$1.48 billion. From July 8, exchange outflows surged, peaking between July 18 and 19 with outflows exceeding $100 million. These movements have coincided with ETH maintaining a price above $3,500, despite brief inflow spikes on July 8, 9–10, and 17.
Outflows Align With ETH Price Gains and Wallet Holding Trends
Ethereum’s price remained below $2,700 until July 9, before rising steadily to $3,600 by July 17. This surge occurred alongside intensified outflows, pointing to continued movement of assets away from exchanges.
ETH Spot Inflow/Outflow Chart, Source: Coinglass
However, on days with higher inflows, including July 17, temporary drops in price momentum were observed. Ethereum maintains a high correlation with Bitcoin, at 0.92, and a portion of holders, 76%, have held for over one year.
Concentration by large holders is also notable, accounting for 56% of total supply. These trends suggest growing control by a few entities, especially with rising outflows and accumulation.
Overall, Ethereum has seen over $518 million in transfers from HTX to Binance, major wallet accumulation, and heightened outflows. Price support above $3,500 continues as wallet data, exchange flows, and holding patterns align across the ecosystem.
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