Lookonchain said the investor has withdrawn and staked a total of 112,000 ETH worth $208 million from Gemini over the past three weeks.
Whale wallet 0x2e80 withdrew 19,000 ETH worth $35.44 million from Gemini and staked the tokens, extending a three-week accumulation pattern tracked by Lookonchain. Over the past three weeks, the same whale has withdrawn a cumulative 112,000 ETH worth $208 million from Gemini and staked it. Large exchange outflows followed by staking are often watched by traders as a sign that tokens may be moving into longer-term positioning rather than remaining available for immediate sale.