Ethereum Whale Wallet Buys $19.7 Million in ETH as US Spot ETF Outflows Mount
Key Takeaways
- •A large Ethereum whale bought 8,773.5 ETH for $19.7 million at $2,245, bringing its total holdings to 23,095 ETH worth approximately $51.69 million.
- •The same whale previously bought 10,376 ETH in June at an average price of $1,626, showing continued accumulation at higher levels.
- •A fresh wallet identified as 0x4AB7 withdrew 9,777 ETH worth about $22.5 million from Binance over the past week, a move analysts often interpret as intent to hold rather than sell.
- •US spot Ethereum ETFs registered $365 million in outflows over the past week, with $193.2 million exiting in just the last two days after ETH fell almost 10% on November 5.
- •Ethereum is trading around $2,239 with local support at $2,200–$2,220, while analyst Ali Martinez says a break in momentum could push the price toward $1,963 after the loss of $2,385 support.
On-chain data shows a large Ethereum (ETH) holder adding to its position even as institutional outflows from US spot Ethereum ETFs continue to mount, setting up a visible split between how large private wallets and regulated investment vehicles are currently positioned.
According to Arkham data spotted by Whale Alert, a wallet has purchased $19.7 million worth of Ethereum, picking up 8,773.5 ETH at a price of $2,245. Data from Yujin Monitor shows the same whale previously bought 10,376 ETH in June at an average price of $1,626. The whale's total Ethereum holdings currently stand at 23,095 ETH, worth approximately $51.69 million. Whale-tracking services such as Arkham and Whale Alert monitor transfers of this size in real time, because the behavior of the largest holders is widely used as a reference point for on-chain sentiment.
Fresh Wallet Pulls ETH From Binance
Arkham also identified another fresh wallet, 0x4AB7, which withdrew 9,777 ETH worth about $22.5 million from Binance over the course of the past week. Moves off exchanges place coins into private custody, a pattern on-chain analysts often read as a shift toward holding rather than near-term sale.
Exchange net-flow statistics, however, paint a somewhat different picture. On Saturday, ETH recorded $18.32 million in net flow across all major exchanges. If whale funds move to exchanges en masse, this usually signals short-term selling pressure, which is why aggregate exchange flows are tracked as a near-term supply gauge.
Institutional Investors Reduce ETH Exposure
Over the past week, US spot Ethereum ETFs registered $365 million in outflows, with the last two days alone accounting for $193.2 million. The withdrawals followed the rapid decline on November 5, when Ethereum fell almost 10% after a short-lived rally. Because these funds hold ETH on behalf of investors, their daily flow figures have become a closely followed barometer of institutional demand through regulated channels.
Analyst Ali Martinez noted that ETH has recently lost an important support level at $2,385, and that more selling pressure could mean a further decline toward $1,963.
Where ETH Trades Now
Ethereum is currently trading at $2,239, moving sideways around its local bottom. Local support sits in the $2,200–$2,220 range. A break above $2,300 would put the price in recovery mode, opening the way to the $2,400–$2,450 zone tested this week. In the sessions ahead, the data points to watch are whether the ETF outflow streak extends and whether the accumulation pattern among large wallets continues, since those flows will show whether the divide between whale buying and institutional withdrawals narrows or widens.
This article was originally published by U.Today.
