34,188 Ethereum withdrawn from popular crypto exchanges as whale betting grows

An unknown whale has made a big move on the Ethereum (ETH) chain. On-chain analytics platform Lookonchain discovers the transaction and reported A whale simply identified by the wallet address “0x97BD” moved 10,000 ETH.

Long-term trust in Ethereum whales

The whale withdrew this large amount of Ethereum worth $31.91 million from the Bitget exchange. Whale’s action is significant because it represents a strategic accumulation, even though price fluctuations have caused ETH to decline by more than 10% in the past 30 days.

Notably, after Whale’s withdrawal, the total holdings in the wallet jumped to 34,188 ETH (equivalent to approximately $108.8 million). The whale likely decided to withdraw from the Bitget exchange to a private wallet as it intends to hold onto its assets for the long term.

Generally, if the owner does not want to sell his asset, he will store it in a private wallet. Whales may have decided to store their assets in self-custodial wallets and build a portfolio. The large amount of Ethereum in the wallet suggests that he was building it over time.

Lookonchain data shows that whales have staked Ethereum through Lido staking. This further emphasizes that whales are confident in Ethereum’s future price prospects despite price fluctuations of major crypto assets on the market.

During trading, Ethereum rose from a low of $3,059.98 to a high of $3,238.56 over the past 24 hours.

At the time of writing, Ethereum replaced The transaction price was $3,164.88, representing an increase of 2.02% in the period.

However, trading volume still decreased by 8.44% to $28.03 billion. This suggests that market participants may still be cautious and monitoring developments on the chain. It was probably caused by $135 million worth of ETH Offloaded by BlackRock Despite the asset’s resurgence in the previous trading session.

Network Failure and Buterin Update Roadmap

Early Thursday morning, some community members experienced network outages.

According to Ethereum Foundation Updatesthere was an issue with the Prysm consensus client on mainnet. This bug took approximately 23% of network nodes offline.

Meanwhile, Ethereum founder Vitalik Buterin suggested: 3 important updates What a blockchain needs to do.

Buterin emphasized that this includes limits on the number of bytes of contract code accessed per transaction and the modification of memory pieces. The other is the cycle bound of the ZK-EVM prover.