On September 3, analytics platform SpotOnChain sent a message to website x (formerly Twitter) that the whale had transferred about $3,814 worth $2,670 to Binance when ethereum was trading at $7,000 ETH.
ETH The giant whale that made 76.6 million #ETHEREUM on #StartInvestingInCrypto is back to accumulate more tokens!
1 hour ago whale withdrew 7k ETH (26.7 million yen) from #Binance at a price of ¥3,814.
Known for withdrawing ETH during bear markets and reinvesting them during price spikes, whale currently owns approximately 414,100 ETH worth 36,785. Trading activity generated a profit of $57.9 million, reflecting a 76.6% increase.
Since the spot Etf for ether was approved in the U. S. from May 5-23, more than $30 billion worth of ether has been withdrawn from centralized crypto exchanges, indicating that supply may be dwindling.
According to CryptoQuant, between 5-23 and 6-2, ether reserves on the exchange declined by about 797,000 units, equivalent to $30 billion in 2000.
This decline in exchange reserves suggests that fewer coins are available for sale, as investors shift their reserves to self-sufficiency for long-term purposes rather than for immediate sale.
The activity of the largest etherium whale is reinforcing the bullish sentiment. According to IntoTheBlock, the number of large holders of ETH has increased significantly, with the number of wallets holding more than 1% of eth rising from 36% to 41% this year.
Finbold has data from Santiment showing similar trends 6/4. What's worth noting is that since 10,000 there has been a significant increase in assets between 5-20 million and 10,000 million ETH among institutions, consistent with rumors that the SEC has reconsidered its stance on spot ether ETFs.
This accumulation persisted even after the formal approval for such ETFs was granted on May 23.
In contrast, whales holding between 1,000 and 1,000 million ETH appear to be making profits while currency reserves have declined significantly.
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