Crypto
Ethereum Whale Transfers $408M to Exchanges Amid Price Rally
An unknown wallet has moved $408 million worth of Ethereum (ETH) to exchanges, sparking questions about the token's recent price surge.
The wallet, which has not been identified, received 167,855 ETH from multiple addresses before sending 70,739 coins, valued at around $174 million, to exchanges such as OKX and Binance over two days.
The remaining 97,115 ETH, worth approximately $237 million, still sits in the wallet untouched.
This development comes after Ethereum closed August with a 32.5% gain, its strongest month since July 2025, following a nearly 70% decline between October and June.