A Close Look into the Mysterious $44.6 Million Ethereum Withdrawal by a Crypto Whale

Recently, a notable Ethereum whale, identified by the address “0x2c74”, has been making waves with substantial withdrawals from the popular cryptocurrency exchange, Kraken.

Just 9 hours ago, this Ethereum whale withdrew 1,269 ETH, equivalent to approximately $2.3 million. This transaction, however, is just the tip of the iceberg. Over the past week, the same address has withdrawn a staggering total of 24,930 ETH, valued at around $44.6 million, from Kraken.

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This whale’s activity is part of a larger trend. Three fresh wallets have collectively withdrawn a total of 86,520 ETH, equivalent to approximately $150 million, from Binance and Kraken in the past week.

The address “0x5bA3” withdrew 35,860 ETH from Binance and subsequently transferred these funds to a contract address. Meanwhile, “0x7c82” withdrew 27,000 ETH from Binance. The aforementioned “0x2c74” rounds out this trio with a withdrawal of 23,660 ETH from Kraken.

These substantial movements of Ethereum are indicative of the significant influence that whales can exert on the cryptocurrency market. As these large-scale investors continue to shift their holdings, the potential for market volatility increases. It remains to be seen how these recent transactions will impact the Ethereum market in the days and weeks to come.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com


Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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