Ethereum Whales Accumulate by Withdrawing $13M in ETH

Ethereum whales have been accumulating ETH by withdrawing significant amounts from major cryptocurrency exchanges. According to on-chain analytics platform Lookonchain, two wallets withdrew a combined 5,195 ETH worth about $12.96 million.

A new wallet, '0xC2f1,' withdrew 2,695 ETH from Gemini and staked the entire amount, worth around $6.94 million. This move suggests that Ethereum whales are accumulating, rather than selling or trading their holdings.

Another wallet, '0x3F2c,' which had been inactive for about nine months, withdrew 2,500 ETH from Binance, valued at approximately $6.02 million.