In the last 12 hours, something interesting happened — a major institution withdrew 20,000 ETH from multiple channels all at once, equivalent to about $62.3 million USD.

The address for this transaction is: 0x363adf8182fd0fcd0f43d1c904809f85d6f24f7a

Don’t bother guessing; this is clearly an institution taking the opportunity to accumulate. The logic behind such a large sell-off across several major trading platforms is quite clear — either they are liquidating for future operations or quietly building a position at low prices. We will continue to watch ETH’s trend.