Ethereum Whales Withdraw 5,195 ETH from Exchanges

Ethereum (ETH) whales have been spotted securing liquidity by withdrawing a combined total of 5,195 ETH from major cryptocurrency exchanges.

According to on-chain analytics platform Lookonchain, a newly created wallet '0xC2f1' withdrew 2,695 ETH from Gemini approximately five hours prior, valued at around $6.94 million at the time. The withdrawn amount was entirely staked.

Another wallet '0x3F2c', inactive for about nine months, also withdrew 2,500 ETH from Binance, equivalent to roughly $6.02 million.

The combined withdrawal of 5,195 ETH totals approximately $12.96 million, prompting Lookonchain to analyze this as a sign of accumulating activity by Ethereum whales.