Withdrawn from Binance and Hoarded: Mega Whale Focuses $230 Million on These Two Assets
In the cryptocurrency market, a mega whale with the wallet address “0x2684” has pushed their total Ethereum and Wrapped Bitcoin position to over $230 million with their latest move.
On-chain data proves once again that large investors view market fluctuations as opportunities. According to data provided by Lookonchain and Arkham Intelligence, a mysterious whale continued their accumulation strategy without slowing down by purchasing approximately 3,960 Ethereum (ETH) worth $7.4 million in the last 3 hours. This latest purchase is just one part of the investor’s months-long systematic growth plan.
The whale in question has been playing a very active role in the market since June 30. During this period, the wallet owner, who accumulated a total of 79,216 Ethereum (ETH), spent approximately $140.77 million on these assets. The investor’s average cost for Ethereum stands at $1,777. Analysis of the data shows that the whale regularly withdraws assets from the Binance exchange and utilizes them in decentralized finance protocols.
The Whale’s Strategic Accumulation and WBTC Move
The whale’s investment appetite was not limited to Ethereum. During the same period, the investor also collected 1,400 Wrapped Bitcoin (WBTC), paying $89.44 million for these transactions. The whale’s average cost for WBTC was calculated at $63,887. It is noteworthy that this massive wallet, with a total portfolio size exceeding $230 million, makes aggressive purchases at specific market levels.
A whale of this magnitude persistently buying at current levels is seen as a strong signal of confidence that the market is in its bottom zone. Maintaining the Ethereum cost at a strategic point like $1,777, in particular, shows that expectations for a long-term rally remain intact. These large transfers made by the investor from exchange wallets to their own secure wallet reduce potential sell pressure in the market while highlighting institutional-level accumulation appetite.