- In less than two weeks, a cryptocurrency whale took out around $405 million worth of ETH, indicating a substantial amount of whale activity.
- By June 2025, the price of Ethereum is predicted to surpass its all-time high, perhaps hitting $4,964.07.
In recent weeks, the Ethereum network has seen significant activity from a number of large-scale investors, also referred to as “crypto whales,” in the context of volatile market conditions.
Blockchain monitoring company Lookonchain initially discovered an address beginning with “0x4359” taking out a sizable portion of Ethereum (ETH) from decentralized exchanges (DEX) and Binance, valued at around half a billion dollars.
Crypto Whale Withdraw Large Amounts of Ethereum
This whale started a large transfer of 10,119 ETH ($31.85 million) from Binance. In less than two weeks, he has amassed almost $405.19 million in ETH. The whale has bought a total of 127,388 ETH from DEX and Binance since April 8, with an average buying price of roughly $3,172 per ETH.
This giant whale withdrew 10,119 $ETH($31.85M) from #Binance again 8 hours ago.
He has bought 127,388 $ETH($405.19M) from #DEX and #Binance since Apr 8, with an average buying price of ~$3,172.https://t.co/gV3J2sZdS1 pic.twitter.com/IJ7olISDkw
— Lookonchain (@lookonchain) April 21, 2024
This price is in line with the current market value. According to CoinMarketCap, Ethereum’s price is currently $3,164.76, down 1.48% over the last day and slightly up 2.44% over the last week.
The same day, 14,408 ETH worth approximately $45.745 million were sent to the cryptocurrency exchange OKX by an unidentified party, according to Whale Alert, a different service that monitors significant cryptocurrency transactions.
The substantial liquidity and substantial financial movements inside the cryptocurrency ecosystem are highlighted by this movement.
A transaction from a wallet that took part in Ethereum’s initial coin offering (ICO) was also reported by Whale Alert. This wallet, which had been inactive for almost nine years, transferred 197 ETH for $622,685, demonstrating both current and long-term activations on the Ethereum blockchain.
Another whale was seen in a different incident trying to leverage-long Ethereum after losing millions in earlier attempts. This entity made a wager on an increase in Ethereum’s value by borrowing USDT from the lending platform Compound (COMP).
This whale went long $ETH again.
He lost 2 times while long $ETH, for a total loss of $4.5M!
In the past 1 hour, he withdrew 8,249 $ETH($26.18M) from #Binance and deposited it into #Compound, then borrowed 17.3M $USDT from #Compound.https://t.co/fdHFQdxHdJ pic.twitter.com/T2VMJtwAhE
— Lookonchain (@lookonchain) April 21, 2024
Forecasts and Upcoming Price Movements
Due to the substantial amounts of cryptocurrency involved, these actions demonstrate the continued attention and calculated moves made by large holders in the Ethereum market, which frequently have a major impact on prices.
As formerly reported by ETHNews, previous estimates have indicated that, Ethereum’s price may soar after Bitcoin’s halving event, and maybe passing its all-time high. Ethereum is expected to hit a new top price of $4,964.07 by June 2025, indicating a promising future for this leading altcoin.