Major Exchange Witnesses Thousands of Ethereum (ETH) Outflow

Vignesh Karunanidhi
Ethereum Foundation Sold 1,700 ETH for $2.74 Million USDC
Source: CNN

Ethereum is a prominent cryptocurrency, earning its place as the second largest cryptocurrency. There are several whales that hold a considerable amount of ETH. According to the latest details provided by Lookonchain, a crypto intelligence platform, a whale address “0x882E” has recently withdrawn over 7,000 ETH from one of the largest exchanges, Binance.

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According to the details from CoinMarketCap, the value of the withdrawn Ethereum currently stands at $13.8 million. At press time, ETH is trading at $1,990, with a 5.47% gain in value over the last 24 hours.

The Ethereum whale has withdrawn a total of 57,100 ETH since June 8

Data from Lookonchain shows that the whale has been quite active in terms of the movement of ETH. The data shows that the whale has withdrawn a whopping 57,100 ETH, which accounts for over $108 million.

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After initiating the withdrawals, the investor made a decision to stake a significant portion of their assets, locking in 36,640 ETH, which is currently valued at a notable amount of $69 million. The price of ETH has shot up from a low of $1,864 to a high of $1,969.