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Large investors withdraw millions of dollars worth of Ethereum from exchanges
Wealthy market participants and major liquidity providers are actively withdrawing Ethereum from trading platforms. Over the past few days, this trend has continued to intensify.
Such activity highlights a sharp contrast between the stagnation in Ethereum’s price and the fundamental growth of its network.
Unknown buyer accumulates $165 million worth of ETH
The largest accumulation was detected by EyeOnChain analysts at the address “0x8E34.” This wallet has been systematically withdrawing 80,157 ETH since March 11.
The total position is estimated at approximately $165.7 million, with an average purchase price of $2,078. Ethereum is currently trading near $2,068, meaning the investor is already facing a small unrealized loss.
This fact suggests a high probability of long-term strategic holding rather than short-term speculation.
Another investor is showing similar behavior. Analysts from Lookonchain reported an address “0x743d” that used $24.79 million in Tether stablecoins to purchase 11,985 ETH, with an average purchase price close to current market levels.
Market makers move assets amid network growth
Importantly, this trend extends beyond private portfolios and into institutional infrastructure.
Wallets belonging to the well-known market maker Cumberland recently carried out significant transfers. They moved about 23,000 ETH, worth approximately $47–50 million, from the Binance and Coinbase exchanges.
In traditional finance, such transactions often indicate large over-the-counter (OTC) deals or inventory rebalancing for institutional clients.
As a result, these operations may signal hidden but significant interest in Ethereum, the second-largest cryptocurrency by market capitalization.
Network fundamentals continue to strengthen
These acquisitions are happening despite visible price challenges. Ethereum has been struggling to maintain upward momentum above the $2,000 level, while macroeconomic pressures continue to weigh on the market.
However, the spike in on-chain transfers coincides with steady fundamental growth of the Ethereum network.
According to analytics firm Santiment, the number of Ethereum holders has tripled over the past few years.
These figures directly reflect accelerating adoption of the technology. Moreover, strong user engagement paints a positive picture, indicating that Ethereum’s ecosystem continues to strengthen despite short-term market volatility.
