A large Ethereum holder has moved a significant amount of ETH onto centralized exchanges, putting traders on alert for possible additional sell-side pressure.
Blockchain tracking firm Lookonchain identified a wallet that deposited approximately 103,252 ETH — worth about $253 million — into multiple exchanges over three days.
The wallet reportedly still controls another 64,603 ETH valued near $155.8 million.
Large exchange deposits are often monitored because assets transferred onto exchanges can become available for sale. However, an exchange deposit does not confirm that the whale actually sold the ETH.
TOKEN RECON ASSESSMENT:
This wallet belongs on the watchlist. The next signal is not the transfer itself but whether additional ETH moves onto exchanges or the remaining position begins shrinking. Until then, this is potential selling pressure—not confirmed liquidation.
