- Five unknown wallets withdrew $285M in ETH in 24 hours from Kraken and others, suggesting strategic accumulation.
- ETH outflows reached $1.45B in 7 days, with 89% of holders in profit and 75% holding over a year, showing strong retention.
- Spot ETH ETFs saw $533M inflows in one day, totaling $8.3B, supporting signs of rising institutional interest.
Five newly created crypto wallets have withdrawn a combined 76,987 ETH worth approximately $285 million. These transfers occurred within a single day and came directly from major exchanges, including Kraken, Falcon, and an unnamed OTC platform.
The wallet addresses remain unknown, leading to speculation. Despite the anonymity, the scale and speed of the acquisition have led some commentators to associate it with institutional or fund related activity.
More Wallets Joined the Withdrawal Pattern Hours Earlier
On the same day, blockchain data revealed a similar trend from three other newly created wallets. These addresses withdrew 10,703 ETH from Kraken, totaling about $39.6 million. When combined with the earlier transactions, new wallets removed a total of 76,987 ETH from exchanges within 24 hours.
According to Lookonchain, this pattern suggests the ETH has not been sold immediately. Instead, the large transfers point toward strategic accumulation and long term storage, reducing circulating supply across centralized platforms.
On-Chain Metrics Suggest Strengthening ETH Positions
Ethereum price has stayed around $3,600 throughout this activity. ETH’s available supply on exchanges continues to drop. This aligns with IntoTheBlock’s latest data, which shows net outflows of $1.45 billion over seven days.
Large holder concentration is at 55%, while 75% of all ETH holders have held their coins for over a year. 89% of ETH addresses remain in profit. This, combined with the volume of large transactions, $114.86 billion in seven days, shows sustained demand across the network.
ETF Inflows Add Context to the Wallet Accumulations
The broader market context also shows growing institutional interest. Spot Ethereum ETFs saw inflows of $533 million on Tuesday alone, pushing total inflows to $8.3 billion. These inflows mark 13 consecutive days of investor engagement.
While it is unclear who controls the new wallets, their size and timing coincide with a rising trend in institutional demand. On-chain experts advise tracking such wallets to identify future accumulation or movement patterns.
Exchange Outflows and Ongoing Demand
The emergence of five new wallets collectively acquiring nearly $285 million in ETH shows a clear exchange outflow. Together with high ETF inflows and increasing large transaction volume, Ethereum’s demand has not slowed.
As more ETH leaves centralized platforms and lands in new wallets, supply tightens. With most holders in profit and on-chain data showing strong retention, Ethereum’s supply outlook continues to shift.
