A whale has withdrawn a total of 20,000 ETH (worth $62.3 million) from multiple centralized exchanges over the past 12 hours, according to on-chain monitoring data.
Large-scale cryptocurrency withdrawals from centralized exchanges are often closely monitored because they can impact exchange liquidation and reflect changes in the holding behavior of large investors.
- Whales withdrew 20,000 ETH in 12 hours.
- Estimated value: $62.3 million.
- Withdraw from multiple CEXs: Galaxy, Coinbase , FalconX, Cumberland.
Details of ETH withdrawal transaction
According to Onchain Lens, a whale has withdrawn a total of 20,000 ETH, equivalent to $62.3 million, in the past 12 hours.
These ETH withdrawals were made across multiple centralized exchanges, including Galaxy, Coinbase, FalconX, and Cumberland. Monitoring data indicates that these were combined withdrawals from multiple platforms, rather than occurring on a single exchange.
The timestamps recorded are within the last 12 hours up to January 3rd. The report does not specify the wallet address, the withdrawal price for each transaction, or the destination after leaving the exchange (e.g., self-custodial wallet or on-chain protocols).
The significance of market monitoring.
The withdrawal of large amounts of ETH from CEXs could reduce the amount of ETH available for immediate trading on the exchange in the short term.
In practice, whale cryptocurrency withdrawals are often XEM as signals to watch for regarding changes in asset storage (exchange departure), risk management, or preparation for other on- chain activities. However, with only data showing a withdrawal of 20,000 ETH worth $62.3 million, it's not yet possible to conclude the purpose or Price Impact.
