Whales Pulled $64 Million Worth Of Ethereum From Exchanges Amid ETH Price Surge

Ethereum (ETH) is back at the $3,000 level showing signs of further bullish trend. As the Ethereum (ETH) price continues to rise, crypto whales shows notable confidence and have withdrawn $64 million worth of ETH from major exchanges. This move further triggers speculations and attention from the crypto community.

According to a report from Lookonchain, a significant amount if ETH has been transferred from various exchanges to more secure environments. A whale with Ethereum address 0x8B94 has withdrawn a massive 14,632 ETH that is worth around $45.5 million from Binance. In addition, another two whale wallets have transferred 6,000 ETH, worth $18.7 million from Kraken to an unknown address over the past two days.

In a previous report, TRON founder Justin Sun is suspectedly acquired an impressive amount of Ethereum. According to the report, an impressive 13,780 ETH, worth $41.24 million has been transferred to his alleged address fom Binance. In the last two weeks, Sun is believed to have acquired massive acquisitions amounting to a total of 168,369 ETH, worth approximately $487 million.

Justin Sun has not yet confirmed his involvement in these transactions.

As per Lookonchain, this massive whale transactions indicates a growing trend among large-scale investors to secure their massive ETH assets.

At this time of writing, Ethereum’s (ETH) price stands at $3,048 in the last 24 hours. In the last 7 days, ETH has increased by 4.58%.

Meanwhile, Ethereum’s Dencun upgrade is fast approaching with only a few days to count. The upgrade is expected to commence on March 13. The most anticipated Dencun upgrade is set to bring crucial enhancement in scalability addressing the long-standing issues within the Ethereum network.