Ethereum Whale Buying Continues... 81,898 ETH Withdrawn from Exchanges in Three Days

Large crypto investors continued withdrawing Ethereum over three days, pulling 81,898 ETH from exchanges. According to Decrypt, the withdrawal amounted to over $154 million. Lookonchain data shows multiple whale wallets purchased Ethereum from 15th to 17th. On 17th, two new wallets withdrew 20,000 ETH from Coinbase Prime, while Abraxis Capital withdrew 8,452 ETH from Binance and Bitbit. Purchasing activity persisted on 16th, with three new wallets withdrawing 30,000 ETH from Coinbase Prime and Arthur Hayes buying 1,293 ETH. Abraxis Capital also withdrew 8,153 ETH from Binance and Bitbit on 15th, while depositing 618 BTC to Kraken, suggesting potential asset reallocation from Bitcoin to Ethereum. Corporate financial strategies continued, with Bitmain, chaired by Tom Lee, purchasing 6,000 ETH from FalconX on 15th, bringing its Ethereum holdings close to 6 million ETH. Lee compared Ethereum's potential to Amazon, NVIDIA, and JPMorgan's early growth phases, noting Bitmain's stock has shown 90% correlation with ETH. Bitmain has accumulated 574,000 ETH in the past year.