Two wallets just pulled $155 million worth of Ethereum off exchanges in 48 hours.
ETH is trading at $2,056, up on the day and on the week, and the Fear and Greed Index has moved from 25 to 27. The price is recovering. But the more interesting story is happening on-chain.
New Wallets, Big Moves
On-chain tracker Lookonchain flagged both transactions. A freshly created wallet, address 0xfDe8, withdrew 11,629 ETH worth $23.71 million from Binance, while whale 0x8E34 pulled 63,324 ETH valued at $131.2 million from Kraken – both within the same two-day window.
The detail worth noting is the new wallet. When a whale creates a fresh address before withdrawing at this scale, cold storage is the most common explanation – though large OTC desk settlements can produce similar on-chain patterns.
Either way, ETH leaving exchanges in this volume reduces the liquid supply available for trading, and that shift in sell-side pressure tends to matter more than it looks in the moment.
The Company Trying to Own 5% of All Ethereum
BitMine Immersion Technologies, the largest corporate holder of Ethereum in the world, just recorded its biggest weekly token acquisition of 2026 – 60,976 ETH – bringing its total holdings to 4.535 million tokens, approximately 3.76% of the entire Ethereum supply.
The company currently holds $1.2 billion in cash with plans to keep deploying, and has over 3 million ETH already staked at roughly $6 billion in value. Its total assets have reached $10.3 billion. The stated goal is to reach 5% of all ETH in existence, an ambition the company has branded the “Alchemy of 5%.”
