According to the latest data from blockchain monitoring platform Lookonchain, on February 25, a whale wallet marked as 0x166f withdrew a total of 20,000 Ethereum (ETH) from Binance and Deribit within less than two hours. At current market prices, the amount is estimated to be worth approximately $38.25 million.
Whale movement sparks market speculation
This massive Ethereum transfer has quickly triggered widespread speculation in the market. Industry analysts are closely monitoring the wallet’s subsequent activities to determine if further market fluctuations may follow.
Funds flow from exchanges is worth attention
- The whale’s withdrawal from Binance and Deribit might signal concerns over exchange security.
- Such a large withdrawal could also indicate the whale is reallocating assets or preparing for a potential sell-off.
- Market investors should stay vigilant and monitor on-chain activity to respond promptly to potential risks.