 ▲ Ethereum (ETH), cryptocurrency whale/AI-generated image |
Ethereum (ETH) has recovered its losses within a day. At the same time, an anonymous large whale was detected making an unusual move by withdrawing approximately $37 million worth of ETH from major exchanges and transferring it to a personal wallet.
According to crypto-focused outlet U.Today on February 25 (local time), blockchain data tracking service Whale Alert identified large transfers of Ethereum from major exchanges to an anonymous wallet on the day. The withdrawn amount totaled nearly 20,000 ETH, exceeding $37 million in dollar terms.
Looking at the specific transactions, 12,738 ETH worth about $23.5 million was moved from Binance to an unknown wallet, while 7,000 ETH valued at approximately $13.4 million was transferred from crypto derivatives exchange Deribit to an anonymous address. Both large transactions were identified as movements from exchange hot wallets to unidentified private wallets.
This large-scale withdrawal has drawn greater attention as it occurred during a clear bullish phase for Ethereum’s price. Ethereum surged more than 7% over the past 24 hours, demonstrating strong upward momentum, and is currently trading above the $1,900 level. The substantial fund movement by a whale amid renewed market optimism is having a notable impact on investor sentiment.
In the industry, when a large investor withdraws assets from an exchange and moves them to a private wallet, it is typically interpreted as a strong bullish signal. This suggests the whale has no immediate intention to sell on the market and instead plans to securely store the assets—potentially in cold storage—from a mid- to long-term perspective. As a result, the available supply for sale on exchanges decreases, reducing potential downward pressure.
With Ethereum reclaiming the $1,900 level and gaining upward momentum, this $37 million external transfer suggests that whales are positioning for further price appreciation. The decision by major holders to opt for long-term holding rather than short-term profit-taking is regarded as a key on-chain indicator supporting the market’s positive fundamentals.
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