Hupzy (Spot On Chain)|Jun 10, 2026 07:06
📈 Three whale addresses — two freshly created — just withdrew a combined ~$𝟭𝟮𝟮𝗠 𝗘𝗧𝗛 from FalconX and Kraken. One of the addresses is sitting on a $9.1M unrealized loss from its prior ETH entry.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: Large exchange withdrawals are a classic accumulation signal — coins moving off exchanges reduce sell-side liquidity. Fresh addresses suggest new capital entering rather than reshuffling. The fact that one whale is adding despite being underwater on its prior position points to conviction buying or dollar-cost averaging. $122M in coordinated off-exchange flow is a meaningful bullish data point for ETH.
Arkham entity tracking: https://arkm.com/explorer/entity/3a166c20-eaa1-4aa3-8ba2-5e1439e66f1b
source: arkham
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