Two Whales Add $89.1M and $9.64M Worth of ETH to Holdings
Onchain Lens data shows two large ETH holders increased their Ethereum positions. Wallet 0x0C4 withdrew 29,665 ETH (about $89.1 million) from OKX and now holds 44,774 ETH (≈$135.13 million). Separately, an ETH staker withdrew 3,207 ETH (≈$9.64 million) from Gemini to re-stake. The activity signals accumulation by large addresses and movement from centralized exchanges to self-custody or staking. Key metrics: 29,665 ETH (~$89.1M), 44,774 ETH total (~$135.13M) for 0x0C4; 3,207 ETH (~$9.64M) withdrawn from Gemini for staking. This is market information and not investment advice.
Bullish
Large withdrawals of ETH from exchanges and concentration into whale wallets or staking typically reduce liquid supply on exchanges, which can be bullish for price if demand remains steady or increases. The 0x0C4 withdrawal (29,665 ETH) is significant relative to daily flows and signals accumulation or long-term holding. The Gemini withdrawal for staking (3,207 ETH) removes tokens from tradable supply and indicates confidence in staking rewards or long-term ETH outlook. Similar past events—large exchange outflows and whale accumulation—have preceded short-to-medium-term upward pressure on ETH prices. Short-term impact: possible reduced sell-side liquidity and upward price sensitivity to positive demand. Long-term impact: increased staking and HODLing can tighten circulating supply and support higher valuations, though market-wide macro factors and large sell-offs by other holders could counteract this. Overall the move leans bullish but not decisive without broader demand indicators.