MetaAlpha withdraws $24.85 million worth of Ethereum from centralized exchanges

Uk Jin

Summary

Asset manager MetaAlpha was reported to have withdrawn a large amount of Ethereum (ETH) from centralized exchanges.
Onchain Lens said MetaAlpha withdrew 8,500 Ethereum from Binance and Kraken.
This was interpreted as a signal of long-term holding or potential DeFi (DeFi) use, rather than short-term selling.

Asset manager MetaAlpha has withdrawn a large amount of Ethereum (ETH) from exchanges.

On the 23rd (Korea time), Onchain Lens reported via X (formerly Twitter) that MetaAlpha withdrew 8,500 Ethereum from Binance and Kraken.

Typically, withdrawing crypto assets from exchanges is interpreted as a signal pointing to long-term holding or potential use in DeFi (DeFi), rather than short-term selling.

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