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Crypto Whales Withdraw $131M in ETH Amidst Market Volatility

Coin WorldTuesday, Feb 11, 2025 11:12 am ET

1min read

Two unidentified cryptocurrency whales have withdrawn a combined total of 49,250 ETH, equivalent to approximately $131 million, from major exchanges Binance and Bitfinex, according to data from on-chain monitoring platform LookIntoChain.

This significant withdrawal comes amidst a backdrop of increased volatility in the cryptocurrency market. The whales, identified by their Ethereum addresses 0xb99a...BcF5 and 0xEd0C...4312, have been active in the past 48 hours, with the latter address withdrawing a total of 64,603 ETH (approximately $171.8 million) from the two exchanges.

The reasons behind these large-scale withdrawals remain unclear, but they could be indicative of a shift in sentiment among large investors in the cryptocurrency market. It is possible that these whales are moving their assets to private wallets or decentralized exchanges (DEXs) in anticipation of future market movements or to take advantage of arbitrage opportunities.

As the cryptocurrency market continues to evolve, on-chain monitoring platforms like LookIntoChain play a crucial role in tracking the movements of large investors and providing insights into market trends. These platforms enable investors and analysts to make more informed decisions by providing real-time data on transactions and wallet activity.

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