According to recent data from blockchain monitoring platform Lookonchain, an early Ethereum whale address 0xB3E8 has drawn market attention. This wallet started transacting in ETH as far back as 8 years ago, suggesting its owner could be a long-term player in the crypto space.
Within the last two days, the whale deposited a total of 13,083 ETH to the well-known exchange Gemini. At current prices, this transfer is worth approximately $43.35 million. Despite this significant outflow, the address still holds 34,616 ETH, with an estimated value of $115 million, indicating strong remaining holdings.
This large-scale deposit has sparked speculation within the community about its potential next steps. Some analysts suggest it could be related to liquidity adjustments, while others believe it might be preparing for a more significant move in the near future.