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500,000 ETH Worth $2.1 Billion Withdrawn from Exchanges in One Week

On-chain analyst Yu Jin highlights that a whale moved nearly $188 million in ETH from OKX within five days, underscoring intensified large-scale Ethereum outflows.

ETH

Summary

On-chain analyst Yu Jin reported that a whale or organization withdrew 42,682 ETH from OKX over a five-day span, totaling $188 million. The latest transfer involved 5,100 ETH worth $22.02 million, executed at an average withdrawal price of $4,403. This follows reports of 500,000 ETH, valued at $2.1 billion, being withdrawn across exchanges in one week, reflecting continued large-scale Ethereum outflows.

Terms & Concepts
  • ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, widely used for transactions, smart contracts, and decentralized applications.
  • Exchange Outflow: The movement of cryptocurrency from centralized exchanges to external wallets, often interpreted as a sign of long-term holding or reduced selling pressure.
  • On-chain Analyst: A specialist who examines blockchain transaction data to track movements of cryptocurrencies and identify market trends or whale activity.