Analytical data shared by multiple sources recently reveals that whales began hunting Ethereum and pulled them out of crypto exchanges into cold storage safes.
The engine continues to buy Spree as an ETH rocket
Over the past 24 hours, Ethereum, the second-largest digital currency, has surged by around 33% – in just one day, ETH has risen from $1,810 to $2,414 today. Last time, ETH was traded at this level in early March this year.
After the surge, the rebound pushed ETH slightly downward, resulting in a 3.35% reduction. At the time of writing, Ethereum has changed hands for $2,336.
Meanwhile, X Lookonchain’s analytics account reports that after this massive price rise, Abraxas Capital Management, which has been specialized in digital assets since 2017, has been accumulating Ethereum. Today, it purchased 61,401 ETH worth $116.3 million from various crypto exchanges and retracted it.
ETH has skyrocketed above $2,300, up over 20% over the last 24 hours.
Meanwhile, Abraxas Capital has continued to accumulate, pulling 61,401 $ETH ($116.3M) from exchanges over the past two days.
– lookonchain (@lookonchain) May 9, 2025
On Thursday, the same fund manager bought 49,644 ETH from Binance for about $92 million.
World Liberty Financial Grabs 1,587 ETH
Separately, the data aggregation that aggregates Senora (Intotheblockeded) has released statistics for three consecutive weeks showing that whales are emptying Ethereum’s cryptocurrency exchange. The total outflow over the past few weeks is $559 million.
ETH exchange spills have continued to accelerate for three consecutive weeks, spurring a significant price increase. pic.twitter.com/humykotxyz
– Sentora (formerly Intotheblock) (@sentorahq) May 9, 2025
What’s more, major players also stepped in to buy Ethereum today. World Liberty Finance, which belongs to Donald Trump, has earned 1,587 ETH for around $3.5 million. We have also added 9.7 WBTC worth $1 million to our cryptocurrency holdings.
