Hupzy (Spot On Chain)|Aug 31, 2026 01:36
โ ๏ธ A whale wallet has deposited ๐ฐ๐ฌ,๐ด๐ด๐ญ ๐๐ง๐ ($100.67M) into exchanges over 48 hours, with ๐ญ๐ฌ,๐ฑ๐ฌ๐ฒ ๐๐ง๐ ($25.52M) still pending โ a methodical $126M distribution across two days.
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: This is deliberate, sustained sell pressure, not a reactive dump. The remaining $25.5M not yet deposited means the selling is ongoing. ETH already faces underwater whale longs on Hyperliquid โ this exchange-side distribution adds a second front of bearish flow. Watch for the remaining 10,506 ETH hitting exchanges as a near-term catalyst.
The two-day tranche pattern suggests a price-sensitive seller distributing gradually rather than market-selling โ capping upside without triggering an immediate cascade. If the remaining $25.5M deploys quickly, expect tests of recent ETH lows.
https://arkm.com/explorer/address/0x2Ea212A3b33DA76c182A512385694A4111ac5d91
source: lookonchain
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