Recent on-chain data reveals substantial Ethereum (ETH) accumulation by large holders, commonly known as whales, and institutional entities. Over $500 million worth of ETH has been transacted in significant volumes within a short timeframe.
A specific wallet identified as 0xd47 withdrew a substantial 32,902 ETH, valued at approximately $119.42 million, from the Kraken exchange within the last five days.
Simultaneously, wallet address 0x8eE received 32,368 ETH originating from institutional-focused trading platform FalconX. This specific transaction contributes to a broader trend, with the wallet accumulating a total of 138,345 ETH (around $501 million) during the same five-day period.
This significant activity highlights the ongoing accumulation of ETH tokens by major investors and institutions.