According to recent data from LookIntoChain, there is a notable trend of accumulation among Ethereum (ETH) whales. An identified wallet, 0xd81E, has just withdrawn 1,900 ETH from a central exchange (CEX), translating to approximately $3.1 million. Since mid-February, this particular address has executed withdrawals totaling 48,477 ETH, with a market value of $100.35 million, despite currently realizing a loss of around $21 million.
In a related development, the wallet tagged as 0x3bd2 has recently withdrawn 2,600 ETH from Binance, which amounts to around $4.26 million. These movements underscore a consistent strategy of accumulation by large holders across the Ethereum network, hinting at potential long-term bullish sentiment in the cryptocurrency market.
Source: https://en.coinotag.com/breakingnews/whales-continue-to-accumulate-eth-major-withdrawals-raise-questions-about-market-trends/