The transfer came after nearly 11 months of inactivity and followed earlier deposits of 50,000 ETH, valued at roughly $200 million at the time, to FalconX across 13 transactions.
An Ethereum whale address that had been inactive for nearly 11 months transferred 9,000 ETH worth about $17.19 million to Cumberland, a crypto market maker and over-the-counter trading platform. The same address previously deposited 50,000 ETH, valued at roughly $200 million at the time, to FalconX in 13 transactions, marking another large institutional-style movement. Transfers from private wallets to OTC desks are often monitored as possible signs of planned selling, although they can also reflect portfolio rebalancing or liquidity management without immediate impact on public exchange order books.