ETH Whale Withdraws 6,334 ETH After 4-Year Dormancy
On August 19, a prominent Ethereum whale executed an ETH withdrawal of 2,318 ETH (~$9.94M) from Wintermute and Kraken—its first major move in six months. Total on-chain holdings now stand at 5,191 ETH, reflecting about $4.45M in unrealized gains. A week later, on August 26, on-chain analytics firm Lookonchain flagged whale address 0x4097 emerging from four-year dormancy to remove 6,334 ETH (~$28.08M) from Kraken. These large ETH withdrawals can signal shifts in market sentiment, liquidity changes and potential price volatility. Traders should monitor on-chain metrics and whale activity via providers like Onchain Lens and Lookonchain for early indicators of sell-offs or accumulation trends. Historically, such moves have led to short-term volatility but ultimately bolstered support levels in subsequent rallies.
Bullish
Large ETH withdrawals from exchanges reduce sell-side liquidity and often signal long-term accumulation. Short-term market reaction may be volatile as traders adjust to shifting whale positions. However, by moving substantial ETH off-exchange, whales demonstrate confidence in price stability or future upside. Historical precedents show that similar withdrawal events preceded renewed rallies, reinforcing support levels. Therefore, the overall impact is bullish, as exchange supply tightens and on-chain accumulation increases.