Significant Ethereum movements continue to draw attention. The latest transfers involved transactions valued at $17.2 million.
Major ETH Transfers Linked to Nexo
Blockchain analysis suggests some activities are linked to Nexo, which since December 2nd, has withdrawn 114,262 ETH (approximately $423.3 million) to Binance.
Rising Whale Activity
This isn't an isolated event. Early December saw one Ethereum whale deposit 22,740 ETH, valued at $77.7 million, into Binance, supposedly for debt repayment purposes on DeFi platforms.
Reasons for Activity and Ethereum's Resilience
Despite significant outflows, market data shows Ethereum's price remains resilient. The cryptocurrency stays above $3,000, demonstrating strong fundamentals and ongoing interest from institutional and retail investors.
Ethereum whale movements continue to impact the market. Nevertheless, price resilience reflects strong fundamentals and continued demand.
