Unidentified Whale Disburses $225 Million and 'Sweeps Up' Ethereum

▲ Ethereum (ETH), Cryptocurrency Whale / ChatGPT Generated Image

The market's attention is focused on an unidentified virtual asset whale, as evidence has emerged of the whale moving $225 million worth of USDC and subsequently withdrawing a large amount of Ethereum (ETH).

U.S. financial media outlet Benzinga reported on April 26, citing on-chain data analysis account Investing Bros, that a whale first moved $225 million worth of USDC and then withdrew $77.52 million worth of ETH.

According to the report, the whale distributed USDC to platforms like Binance, Bybit, and Deribit over approximately 10 hours. Subsequently, a total of 32,007 ETH was withdrawn. The market is noting the possibility that this flow is not merely a simple fund transfer, but rather a strategic position adjustment by a large investor.

In particular, the structure of first moving stablecoins to exchanges and then withdrawing a large amount of ETH suggests that this could be a move targeting both the spot and derivatives markets simultaneously. The inclusion of Deribit in the fund transfer path also supports this observation.

This transaction is being regarded as an example illustrating how large funds enter and exit the market. The continuous movements of whale wallets can directly impact short-term liquidity and investor sentiment, leading to increased vigilance among market participants.

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