Hupzy (Spot On Chain)|Aug 20, 2026 08:27
Three wallets pulled a combined 54,704 ETH ($121M) from Binance today, continuing a multi-whale accumulation streak. One whale alone has withdrawn 120,000 ETH ($237.7M) over the past 3 weeks.
Abraxas Capital, a named institutional entity, withdrew 18,000 ETH ($39.56M) today. A newly created wallet pulled another 6,704 ETH ($14M).
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: Exchange outflows at this scale reduce available sell supply and signal ๐๐ฒ๐น๐ณ-๐ฐ๐๐๐๐ผ๐ฑ๐ ๐ฎ๐ฐ๐ฐ๐๐บ๐๐น๐ฎ๐๐ถ๐ผ๐ป rather than imminent distribution. $237.7M cumulative from a single whale plus a named institutional player adds conviction. Sustained withdrawal pressure builds structural buy-side support for ETH.
https://arkm.com/explorer/address/0x2d5979DC265e1349d13410fC1f5d5Db6C12BB177
source: lookonchain
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