Whale ETH Withdrawals don pass 16,000, e dey reduce liquidity
Two big whale ETH withdrawals don total over 16,000 ETH (about $67 million) from top exchanges. First, address 0xF436 move 5,631 ETH (~$20.9 million) for SharpLinkGaming purchase, while new wallet 0x526D withdraw 3,000 ETH (~$11.2 million) from Binance. On August 17, another whale use 7,866 ETH (~$35 million) withdraw from Kraken go private wallet, increase im holdings to 16,872 ETH (~$75.4 million). Every ETH withdrawal reduce supply on exchange, cut exchange liquidity, show say big institutional and rich holders dey prefer long-term custody or strategic projects. Traders suppose watch on-chain metrics and exchange reserves well well because these outflows usually tight supply, fit trigger price increase or short-term volatility for Ethereum market.
Bullish
Plenti big ETH withdrawals wea comot from whale addresses wey reach over 16,000 ETH don reduce plenti for di amount of ETH wey dey for exchange. Dis kain wahala dey always happen before price go rise. Big institutional people and wealthy holders wey dey move their money go private custodians dey show say dem get beta mind about di price and dem wan keep am long term. Even though dis kin ETH withdrawal fit cause short time wahala cos liquidity change quick quick, di general drop for the ETH wey dey exchange dey ginger price to go up for mid to long time.