Ethereum Whale Unloads $408M in ETH on Top Exchanges

A large Ethereum whale has moved hundreds of millions of dollars' worth of ETH to top crypto exchanges, sparking speculation about a potential sell-off.

The whale transferred 167,855 ETH, valued at around $408 million, with approximately 70,739 ETH deposited into the basket of top exchanges OKX, Binance, and Bybit.

This move is typically associated with selling pressure on the asset's price. However, some traders point out that the price has been steady despite these concerns.

The whale still holds around $237 million in ETH and could potentially sell up to $400 million in the near future.