Two Crypto Whales Bought a Total of 25,764 ETH in One Day, with Transaction Values Reaching Tens of Millions of USD.
- Two crypto whales purchased a total of 25,764 ETH within 18 hours.
- Whale 0xF436 withdrew 17,655 ETH from exchanges, valued at around $72.7 million.
- Whale 0x3684 bought 8,109 ETH at $4,193/ETH, spending a total of 34 million USDT.
What Transactions Did These Whales Make and What Was Their Scale?
Data from Lookonchain published on August 9 shows that two large whales traded a total of 25,764 ETH within 18 hours. Among them, whale 0xF436 withdrew 17,655 ETH from exchanges, equivalent to $72.7 million at current prices.
This movement indicates a trend of capital shifting from exchanges to off-chain storage, possibly to secure assets or for long-term investment purposes. Meanwhile, whale 0x3684 used 34 million USDT to buy 8,109 ETH at $4,193/ETH, showing positive expectations for Ethereum's price potential.
What Does Whales' ETH Withdrawal from Exchanges Mean for the Market?
Large-scale ETH withdrawals from exchanges reflect a trend of reducing circulating supply in the spot market. This could reduce selling pressure and increase the possibility of price appreciation due to narrowed exchange liquidity.
Typically, when whales transfer assets to personal or cold storage wallets, the purpose is to consolidate asset safety, limit exchange volatility risks, or prepare for long-term staking and DeFi activities.
"Whales withdrawing tens of thousands of ETH from trading shows they forecast a positive trend and prioritize long-term asset holding in the market."
Quote from Blockchain Analyst, Lookonchain, 8/2024
What Does the Purchase of 8,109 ETH with 34 Million USDT Indicate?
Whale 0x3684's expenditure of 34 million USDT to buy 8,109 ETH at $4,193/ETH shows their confidence in Ethereum's recovery and long-term growth potential. This is a positive signal for investors when whales make large purchases at higher prices.
Market analysis suggests that such large transactions often trigger increased liquidity and interest from small individual investors. It also reflects expectations about upcoming upgrades or positive events on the Ethereum network.
How Do These Insights Affect Individual Investors' Investment Strategies?
Large-scale transactions from whales with ETH withdrawal and purchase actions can be seen as market trend warning signals for individual investors. Investors should closely monitor on-chain capital flows to make appropriate holding or position expansion decisions.
Additionally, ETH withdrawal from exchanges is a risk reduction warning against liquidation during market volatility, while large purchase transactions indicate long-term growth opportunities related to Ethereum network updates or protocol upgrades.
Frequently Asked Questions
1. How Much Do Ethereum Whales Typically Trade?
Ethereum whales can trade from a few thousand to tens of thousands of ETH in a single transaction, depending on investment strategy and market conditions.
2. How Does ETH Withdrawal from Exchanges Affect Price?
Withdrawing ETH from exchanges reduces circulating supply in the spot market, typically driving price increases by reducing liquidity.
3. What Does Buying Large ETH at $4,193 Potentially Indicate?
This shows confidence in Ethereum's growth and upcoming positive factors.
4. What Should Individual Investors Do When Whales Are Active?
They should closely monitor on-chain developments, assess capital flows, and consider adjusting their portfolio to optimize risks and opportunities.
5. Do Large-Scale Transactions Guarantee Price Increases?
Not entirely, but they are usually positive indicators. Investors need to combine multiple analytical factors.
