Unidentified Whale Dumps $225 Million and 'Sweeps Up' Ethereum

▲ Ethereum (ETH), Cryptocurrency Whale/ChatGPT Generated Image

The market's attention is focused on the discovery that an unidentified virtual asset whale moved $225 million worth of USDC and then withdrew a large amount of Ethereum (ETH).

U.S. financial media Benzinga reported on April 26, citing on-chain data analysis account Investing Bros, that a whale first moved $225 million worth of USDC and then withdrew $77.52 million worth of ETH.

According to the report, the whale distributed USDC to exchanges such as Binance, Bybit, and Deribit over approximately 10 hours. Subsequently, a total of 32,007 ETH was withdrawn. The market is paying attention to the possibility that this flow is not merely a transfer of funds, but a strategic position adjustment by a large investor.

In particular, the structure of moving stablecoins to exchanges first and then withdrawing a large amount of ETH could be interpreted as a move targeting both spot and derivatives markets simultaneously. The inclusion of Deribit in the fund transfer path also strengthens this observation.

This transaction is seen as an example of how large funds enter and exit the market. The continuous movements of whale wallets can directly impact short-term liquidity and investor sentiment, thus increasing caution among market participants.

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