Ethereum whales withdraw and stake $215 million in accumulation push

Monday 05 January 2026 - 10:20

By: Dakir Madiha

Ethereum whales withdraw and stake $215 million in accumulation push

Major cryptocurrency holders have pulled substantial Ethereum from exchanges and staked it in recent days, signaling a coordinated buildup amid renewed institutional demand through spot exchange-traded funds. One unidentified whale withdrew 20,000 ETH worth $62.3 million from trading platforms, while corporate giant Bitmine staked an additional 49,088 ETH valued at $152.7 million, according to blockchain analytics firm Onchain Lens. This activity coincides with Ethereum trading near $3,140 as of January 4, positioning big players for potential upside.

The whale executed withdrawals from Galaxy Digital, Coinbase, FalconX, and Cumberland within a 12-hour window, routing funds to the address 0x363adf8182fd0fcd0f43d1c904809f85d6f24f7a. Crypto analysts view such large exchange outflows as bullish indicators, suggesting holders anticipate price appreciation and plan to hold rather than sell. The moves occurred as Ethereum rebounded from year-end lows around $2,850, posting gains over four straight days through January 4.

Bitmine's January 4 staking deposit boosted its total staked Ethereum to 593,152 ETH, approximately $1.85 billion. The firm, holding about 4.07 million ETH worth nearly $12 billion, routinely expands staking ahead of launching its MAVAN validator network in early 2026. Staking locks tokens in Ethereum's proof-of-stake network, curbing circulating supply while earning validation rewards.

Whale accumulation aligned with fresh institutional flows into spot Ethereum ETFs, which saw $174.43 million in net inflows on January 2, the first positive weekly flows since mid-December. Grayscale's ETHE led with $53.69 million, followed by ETHA at $47.16 million. Combined with $471 million in broader ETF inflows, the $646 million total marked a reversal from over $6 billion in outflows during November and December 2025.

Technical analysts highlight resistance at $3,150, with a breakout potentially targeting $3,600. Derivatives data shows balanced positioning, with $244.93 million in long positions offsetting $245.02 million in shorts, reflecting mixed short-term trader sentiment.