Major cryptocurrency whale accounts executed significant outflows from leading exchanges on Tuesday, with 0xEb2a withdrawing 2,004 ETH ($4.24 million) from Binance and increasing its holdings to 37,468 ETH ($80.3 million), according to on-chain monitoring data. 0xC551 simultaneously moved 2,150 ETH ($4.63 million) from Kraken, bringing its total position to 6,683 ETH ($14.33 million), suggesting institutional accumulation patterns amid current market conditions.
A wallet believed to belong to ShapeShift founder spent $36.75 million purchasing ETH at $2,151 per token, while the UXLINK protocol hacker converted 5,496 ETH into approximately 11 million DAI in a stablecoin swap. Separately, one substantial holder withdrew 460 BTC ($32.41 million) from Binance following a three-month holding period, resuming activity after a prolonged inactive phase.
The mixed whale activity included a notably unsuccessful investment thesis: one whale that accumulated 742.8 WBTC ($66.2 million) over nearly twelve months at an average entry of approximately $89,117 per unit liquidated the entire position today at roughly $70,259, crystallizing losses of approximately $14 million. The sale underscores timing risks in long-term accumulation strategies even among sophisticated market participants.