$ETH Huge ETH Transfer: 6 New Wallets Receive $427 Million in Ethereum, Market Watches Price Trends

According to Lookonchain monitoring, 8 hours ago, 6 new wallets suspected to be associated with Bitmine received 95,789 ETH from the well-known custody institution BitGo, amounting to approximately $427 million. Such large on-chain movements usually attract significant market attention.

Although there has been no drastic fluctuation in the current Ethereum price trend, such a large-scale concentration transfer of ETH may indicate that institutions are making arrangements or preparing for major operations. Experience suggests that similar large transfers are often followed by increased price volatility, so it is essential to pay attention to whether there are signs of transfers to exchanges for selling or long-term lock-up. The short-term ETH price support and market liquidity may be influenced by the movement of these funds, so partners entering the market should be cautious ⚠️.