Ethereum “whales” are quietly piling in even as ETH’s price struggles, a trend that could underpin a bullish turn for the second-largest crypto. Key withdrawal surge - CryptoQuant analyst Arab Chain flagged a sharp uptick in Ethereum withdrawals from exchanges, the highest since last October. Recent withdrawals topped $400 million. - Across all exchanges, net outflows have exceeded 220,000 ETH, suggesting large holders are moving coins into private wallets or long-term storage—classic accumulation or risk-reduction behavior. - Binance alone recorded nearly 158,000 ETH in daily net outflows on Feb. 5, the biggest one-day exit for the exchange since August, indicating the outflow has been concentrated where liquidity is deepest. Why it matters Whales pulling ETH off exchanges reduces the amount available for immediate sale, which can lower short-term selling pressure. Arab Chain notes this activity has coincided with ETH trading roughly in the $1,800–$2,000 band, implying whales see those levels as attractive entry or hold zones. If market sentiment improves, these withdrawals could help provide near-term price support. Staking at an all-time high - Data from Token Terminal shows staking has climbed past 30% of Ethereum’s total supply—a new staking ratio ATH. - Market newsletter The Milk Road puts the amount locked at about 36.8 million ETH (roughly $72–74 billion), secured by nearly 1 million validators. - There’s a staking exit queue of around 4.1 million ETH; while sizable, it’s small relative to total staked ETH. Current conditions imply roughly a 72-day processing timeline for staking-related actions, and staking demand is at elevated levels. Market takeaway The combination of heavy exchange outflows and record-high staking creates a meaningful supply constraint—an argument many analysts describe as a bullish catalyst for ETH. Still, price remains under pressure in the short term; at the time of writing CoinMarketCap lists ETH near $1,965 and down on the day. Bottom line: large holders are accumulating and locking up ETH, tightening available supply. That dynamic could support prices if broader market momentum returns. Read more AI-generated news on: undefined/news

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