Whale Sells 25,000 ETH for $63.37M on CEX Over Past 6 Days.

A whale or institution has redeemed and transferred 25,000 ETH (approximately $63.37 million) to a cryptocurrency exchange (CEX) over the past 6 days. This follows a previous redemption of 59,916 ETH (approximately $155 million) on July 9th. The transfers suggest significant liquidation and potential profit-taking by the whale or institution.

A major whale or institution has redeemed and transferred 25,000 ETH (approximately $63.37 million) to a cryptocurrency exchange (CEX) over the past 6 days. This follows a previous redemption of 59,916 ETH (approximately $155 million) on July 9th. The transfers suggest significant liquidation and potential profit-taking by the whale or institution.

According to ChainCatcher, as monitored by Ember, the last 3,631 ETH from a certain whale/institutional address were transferred out five hours ago. This means that all 95,313 ETH (worth approximately $234 million) redeemed from staking over the past month have now been moved into CEXs [1].

These ETH were staked last year, with an average price of $2,878 at the time of staking. The average price when transferred into CEXs after redemption was $2,454, resulting in a potential loss of up to $40.41 million. This significant loss suggests that the whale or institution is taking profits or liquidating positions [1].

Cryptocurrency analytics platform Santiment has detected large transfers of altcoins to centralized exchanges (CEX) in the last 24 hours. Some whale wallets have made transfers worth millions of dollars. The most transferred altcoins to exchanges and their transfer details include PayPal USD (PYUSD) with a transfer worth $7.9 million, OCD with transfers worth $4.7 million and $3.3 million, Pepe with a transfer worth $2.9 million, Gravity Token with a transfer worth $2 million, OCD with a transfer worth $1.9 million, First Digital USD (FDUSD) with a transfer worth $1.2 million, Apecoin (APE) with a transfer worth $1 million, Mantle (MNT) with a transfer worth $1 million, and OCD with transfers worth $1.4 million and $1 million. The PYUSD transfer has a significant size with a 0.92% market cap. The OKB token attracted attention with five separate transactions totaling $13.4 million. Gravity Token was the transfer that had the biggest impact with a 1.81% market cap [2].

Ethereum has shown minimal upward price movement in recent days, despite earlier gains. Over the past week, the asset has only gained 0.3%, and it declined 0.2% in the past 24 hours. At the time of writing, Ethereum is trading at $2,436. This lack of momentum reflects broader hesitation in the crypto market, even as institutional activity and whale behaviors provide structural support for price levels [3].

On-chain analyst Banker described Ethereum’s current phase as a “deadlock.” The market is witnessing steady accumulation from large holders, particularly visible through consistent ~60,000 ETH in weekly staking inflows and significant negative exchange netflows, which point to withdrawal activity exceeding deposits. However, these developments are being met with little to no increased activity from retail investors, creating a state of stagnation rather than bullish momentum [3].

The continued withdrawal activity by whales, combined with stable leverage usage, is creating a kind of supply squeeze that prevents significant downside pressure. However, without renewed participation from retail investors or a rise in daily address activity above 400,000, Ethereum is likely to remain within a narrow range. The report concludes that while downside is being contained by large holders, a meaningful breakout would require broader market engagement or a clear external catalyst [3].

In conclusion, the significant ETH redemptions and transfers by a whale or institution suggest a potential sell-off in the Ethereum market. The transfers indicate profit-taking or liquidation by the whale or institution, which could have implications for the broader crypto market.

References:
[1] https://www.bitget.com/news/detail/12560604853592
[2] https://en.bitcoinsistemi.com/watch-out-whales-transfer-massive-amounts-of-tokens-to-exchanges-in-7-altcoins-today/
[3] https://www.ainvest.com/news/ethereum-stagnates-0-3-weekly-gain-whale-activity-2507/