The giant whale redeems and transfers more than 68,000 ETH to CEX within 3 weeks, worth about US$165 million

According to Ember Monitoring, ETH performance is still weak despite the recent continuous inflow of ETH ETFs and the continued purchase of SharpLink and other institutions. Analysis shows that there may be large-scale shipments of giant whales or institutions. In the past three weeks, a giant whale has redeemed 95,313 ETHs through two addresses, of which 68,182 ETHs (about US$165 million) have been transferred to centralized exchanges such as HTX, OKX and Bybit. Currently, the address still holds 27,131 ETH (about US$67.51 million) and is expected to continue to transfer to CEX in the next few days.

These ETHs were all pledged last year, with an average price of about $2,878 when pledged, while the average price of redeemed and transferred to CEX was about $2,431, resulting in a loss of about $42.6 million.

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