On-chain data analytics to Spot On Chain according toa group Ethereum whale collectively transferred a staggering amount of 32,527 ETH to various exchanges. In the last 24 hours, three long-term ETH traders (or perhaps funds) transferred $109 million worth to CEXs, which includes 32,527 ETH.
Three long-term $ETH traders/funds deposited 32,527 $ETH ($109M) to CEX in the past 24hrs. Did the whales think that the recent correction was still not enough? 🤔
NEWS CONTINUES BELOWone. @iEx_ec multisign 0x213 deposited 12,500 $ETH ($41.7M) to #kraken at ~$3,339 8hrs ago:
• First received 120.9K… pic.twitter.com/Bec9122Zr1— Spot On Chain (@spotonchain) March 23, 2024
NEWS CONTINUES BELOW
An investor using the pseudonym “0x213” deposited $41.7 million, the value of 12,500 ETH, into Kraken at a price of $3,339. This whale first purchased 120,900 ETH from white hat hacker Baylina.eth in July 2017. He currently holds approximately 12,200 ETH worth $40.9 million. Another whale, “0x50b”, deposited his last 11,600 ETH worth $39.1 million. BinanceHe deposited it at a price of approximately $3,374. This whale first purchased ETH in December 2017 and deposited all 32,600 ETH to Binance for approximately $3,312, worth $108 million. To date, these whales have withdrawn 80 million USDT in the last three days.
The third whale, “Metalpha”, deposited 8,427 ETH worth $28.2 million to Binance at a price of $3,347. This whale first purchased ETH in July 2021. It currently holds 62,300 WSTETH worth $242 million. The timing of this transfer is particularly noteworthy as it comes after Ethereum’s price dropped noticeably after surpassing $4,000. This latest action by the whales has led to speculation: “Do the whales still think the last fix wasn’t enough?”
Ethereum Whale Activity Reaches 2024 High
altcoinThe price of has fallen nearly 18% since reaching $4,093 on March 12. According to Santiment, Ethereum whale activity peaked in 2024 as $3,300 price levels fell into the medium-term buy zone. A total of 59,137 individual ETH whale transactions worth over $100,000 were recorded between March 19-21. Santiment urges investors to take a look at the 30-day average returns of their ETH wallets. This can indicate whether a purchase is justified. The average 30-day ETH traders are currently down 7%, making a rebound more likely. Additionally, the RSI value dropped to 28.5, the lowest level seen for ETH since the price bottomed in late January.
According to IntoTheBlock, fees on Ethereum have decreased by 41% this week, and meme coin speculation has slowed significantly. The amount of ETH transferred on the Mainnet also reached its highest level since May 2022 this week. ETH also recorded its largest weekly net inflow to exchanges – $720 million since September 2022 – as regulatory FUD spread.
