In a strong show of confidence in Ethereum, six newly created wallets have withdrawn a total of 9,230 ETH—worth around $24.55 million—from crypto exchanges OKX and Kraken. The withdrawals took place over a 15-hour period, with an average acquisition price of $2,660 per ETH.
This type of movement is often seen as a bullish signal. When large sums are pulled off exchanges, it typically means the owners intend to hold rather than trade, pointing to longer-term conviction in Ethereum’s price potential.
The fact that these are fresh wallets makes the move even more interesting. It could suggest that new participants are entering the market with serious capital—or that existing players are taking extra precautions by using brand-new addresses for large purchases. Either way, the immediate transfer of funds out of exchanges hints at a long-term holding strategy.
When investors withdraw crypto to private wallets, it removes that supply from active circulation. That reduces the chance of short-term selling pressure and supports a narrative that investors believe Ethereum is currently undervalued.
While this single event isn’t enough to move markets on its own, it contributes to a larger picture of growing interest in Ethereum. If similar actions continue—especially from new wallets—it could further boost bullish momentum around ETH.
As always, movements like these are just on
e of many data points investors should consider when assessing the market. But $24.5 million in ETH moving off exchanges in a matter of hours is a clear sign: some believe now is a good time to accumulate.
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