Deep-pocketed Ethereum (ETH) investors are shifting over a hundred million dollars worth of ETH into prominent crypto exchange platforms.
New data from Whale Alert, a platform dedicated to tracking crypto whale activity, finds that high-net-worth ETH investors have moved nearly $140,000,000 worth of the leading smart contract platform into Coinbase, Kraken, and OKX.
In one instance, a whale moved 20,000 ETH, worth just above $38 million, from layer-2 scaling solution Arbitrum (ARB) to Kraken, a San Francisco-based crypto exchange.
Another instance saw one high-net-worth trader transfer 25,264 ETH, worth approximately $48.3 million, from an unknown wallet to Coinbase, the largest US-based crypto exchange platform by volume.
The third occurrence saw a crypto whale reposition 30,000 Ethereum, worth about $57.7 million, from an unknown wallet to OKX, a Seychelles-based crypto exchange.
Earlier this month, data from blockchain tracking firm Lookonchain revealed that an ETH whale withdrew over $91 million worth of the top altcoin from Binance, the world’s largest crypto exchange platform by volume, since June 8th.
Furthermore, the data shows that the deep-pocketed trader also staked about $65 million worth of Ethereum.
“The whale has withdrawn 50,100 ETH ($91.2 million) from Binance since June 8 and staked 34,560 ETH ($65 million).”
Ethereum is trading for $1,889 at time of writing, a 1.14% decrease during the last 24 hours.
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