Several whale addresses have withdrawn Ethereum (ETH) from leading exchanges. According to Lookonchain, an address starting with 0xb99a reportedly took out 56,909 ETH, or roughly $151.6 million, from Binance. Another whale address that began with 0xEd0C extracted 64,603 ETH, which is about $171.8 million, from Bitfinex and Binance.
These large-scale transactions suggest an accumulation strategy, which could influence Ethereum’s market direction. Such movements often indicate that major holders are shifting their assets to private wallets, either for long-term holding or strategic positioning for future trades. The timing and scale of these withdrawals also suggest a coordinated effort among whales, potentially impacting price trends in the near term.
ETH trading volumes surge as whales trigger market response
After the whales moved, trading activity on the main ETH pairs picked up, and we saw investor interest increase. On Feb. 11, 2025 at 6:00 PM UTC, Binance saw 1,450 BTC traded on the ETH/BTC pair, a 15% increase from the previous week’s daily average. Bitfinex saw 120,000 ETH traded on the ETH/USDT pair by 7:00 PM UTC, a 20% increase from the previous week’s average.
This is a sign that market participants are reacting to the whale withdrawals and positioning themselves for the price move. Short-term price changes for Ethereum could be caused by changes in exchange liquidity. The increase in active ETH addresses in on-chain data suggests a higher level of market activity.
Ethereum price volatility and whale activity impact the market
The rising volume and accumulation are bullish, but be careful; big whale transactions can correct the price if the sentiment shifts unexpectedly. Monitoring on-chain data and exchange liquidity will be key for those navigating this landscape.
ETH is trading at $2,652 at the time of writing, up to $2,720, then back down to $2,660. This is active trading with both bulls and bears, which could be because of large transactions affecting liquidity or external market forces. Selling pressure and the current dip might be because of big ETH whales or large holders withdrawing.
