Crypto whales are currently mobilizing their assets, as a single entity was observed withdrawing a substantial amount of Ethereum (ETH) from various crypto exchanges. Lookonchain, a blockchain tracking firm, first noticed an address starting with “0x4359” removing their ETH from Binance and decentralized exchanges (DEXes). In less than two weeks, this whale has amassed approximately $405.19 million worth of ETH. The entity withdrew 10,119 ETH ($31.85 million) from Binance and has purchased 127,388 ETH ($405.19 million) from DEXes and Binance since April 8th, with an average buying price of around $3,172.

On the same day, another unidentified entity attracted the attention of whale tracking service Whale Alert by transferring 14,408 ETH, valued at over $45.745 million, to the crypto exchange OKX. Whale Alert also discovered a wallet that had participated in Ethereum’s initial coin offering (ICO) moving 197 ETH worth $622,685. Prior to this recent transfer, the wallet had remained inactive for nearly nine years.

Additionally, another whale was observed attempting to leverage-long Ethereum, despite previously suffering significant losses from similar maneuvers. Lookonchain identified this entity as borrowing USDT from the lending platform Compound (COMP) to go long on ETH. The whale withdrew 8,249 ETH ($26.18 million) from Binance and deposited it into Compound, subsequently borrowing 17.3 million USDT from the platform. This whale has incurred a total loss of $4.5 million from previous unsuccessful attempts at long ETH positions.

As of now, Ethereum is trading at $3,222.

Please note that the opinions expressed in this article are not investment advice and The Daily Hodl recommends conducting thorough research before engaging in high-risk investments involving cryptocurrencies or digital assets. It is important to be aware that all transfers and trades are conducted at one’s own risk, and any losses incurred are the responsibility of the individual investor. The Daily Hodl does not endorse the buying or selling of specific cryptocurrencies or digital assets, nor does it serve as an investment advisor.