$ETH

On June 12, 2024, Coinbase experienced the largest Ethereum withdrawal of the year, with 336,000 ETH (valued at over $1 billion) exiting the platform. This significant transaction marks the fifth instance in 2024 where more than 150,000 ETH were withdrawn in a single day. Such large-scale withdrawals raise questions about the identity behind these transactions.

It is believed that these substantial withdrawals are conducted by whales or institutional entities rather than individual investors. According to analyses, such large transfers can often cause significant market fluctuations, indicating either strategic moves by major players or a shift in investor sentiment.

This event highlights the importance of closely monitoring the activities of cryptocurrency exchanges and major investors. Large-scale withdrawals on major platforms like Coinbase are particularly scrutinized and analyzed by market participants.