Whales and Institutions Boost ETH Holdings with Over $500M in Recent Transfers

Recent data from OnchainLens reveals a notable uptick in Ethereum (ETH) accumulation by both new wallets and institutional investors. Over the past five days, wallet 0xd47 has executed a significant withdrawal of 32,902 ETH from Kraken, amounting to approximately $119.42 million. Concurrently, wallet 0x8eE has received 32,368 ETH from FalconX, contributing to a total inflow of 138,345 ETH valued at around $501 million within the same timeframe. This movement underscores a growing confidence in ETH among large-scale holders and highlights the ongoing institutional interest in the cryptocurrency market. Monitoring these wallet activities provides valuable insights into market dynamics and potential shifts in investor sentiment.