Ethereum Whale Wallets Scoop Up Over $200M ETH Amid Stagnant Prices

Ethereum whales aren't sleeping. High-net-worth investors are yanking massive amounts of ETH off centralized exchanges. One wallet, "0x8E34," has pulled out over 80,000 ETH since March 11, making waves in the trenches. That's around $165.7 million at an average acquisition price of $2,078.89. They're already at a small unrealized loss, but clearly this isn't a short-term hustle.

Another big player, "0x743d," isn't sitting idle either. Dropping nearly $25 million in Tether, they're now holding 11,985 ETH, grabbed at around $2,068 each. Does this mean they're betting on a bull run in a market where prices refuse to budge above the $2,000 barrier?

It's not just lone wolves making moves. Cumberland, a heavyweight in institutional market making, recently withdrew around 23,000 ETH, about $47-50 million, from Binance and Coinbase. This isn't random. It's likely tied to massive over-the-counter trades or just rebalancing for institutional folks. While ETH's price action is caught in a deadlock, the network’s foundational stats are rocketing. Santiment data shows Ethereum holder numbers tripled in a few years. Network's growing. Bulls might be in for a win long-term.

A word to the wise: watch what the whales are doing, not just where the price is. Anon, let me save you some gas fees. This is the alpha nobody is sharing.