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2h ago

Ethereum Whales Step Up Accumulation as Exchange Outflows Deepen Before December Upgrade

A decisive move above $3,727 would signal the first clear confirmation of a broader recovery.

Ethereum [ETH]

Overview

  • On-chain data from CryptoQuant shows large wallets have added about 7.6 million ETH since April, a roughly 52% increase in holdings.
  • AMBCrypto, citing Onchain Lens, reported three recent whale transactions totaling 112,269 ETH, including a 60,000 ETH withdrawal from Binance to Aave V3.
  • Exchange flows have turned withdrawal-dominant with four consecutive days of negative netflows and a latest reading near -40.4k ETH.
  • Retail participation remains muted, with smaller-balance wallets cutting exposure by about 16% even as larger holders buy into weakness.
  • The Fusaka upgrade scheduled for December 3 introduces dedicated rollup lanes and peer data-availability sampling to reduce Layer-2 costs, with the trade-off that lower fees could soften ETH burn.