Ethereum (ETH) has shown a strong upward trajectory over the past seven days as it climbed from around $4,300 last week to briefly test the $4,700 level before pulling back to the current level of $4,520 entering the new week.
In fact, the crypto asset continues to see notable whale accumulation, as fresh wallets actively withdraw large sums from centralized exchanges.
Whales Bet Big on a Breakout
According to the latest data shared by Lookchain, a newly created wallet recently pulled 5,297 ETH from Binance and Bitget. This stash is worth around $24.7 million. This follows a similar action by a different whale wallet, which secured an additional 13,322 ETH, equivalent to $61.65 million, from FalconX on September 15th.
Just hours earlier, another newly created address withdrew 4,208 ETH, worth nearly $19.5 million, from Binance. These back-to-back transactions highlight a trend of continued whale demand for the altcoin, which currently appears to be in a strong accumulation phase.
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