Data from the Ethereum Etherscan blockchain browser shows that 640 thousand ETH were transferred from the Bitfinex 2 cryptocurrency exchange, owned and operated by iFinex Inc.

The Ethereum whale has transferred cryptocurrencies worth more than $25 million, however, 2.1 million ETH are still stored on 40 Bitfinex public wallets.

Usually whales withdraw their currencies from the exchange if they plan to hold them for a long period. This strategy is also used by whales as a precaution to avoid the possibility of theft by hackers.

In addition, when a large amount of ETH is moved from the exchange, it is highly likely to lead to a significant increase in the price of the coin, since it reduces the potential pressure from the seller.

In November, the Ethereum whale transferred more than $ 250 million worth of ETH to Bitfinex, in September, before the merger of the networks, another large owner made a deposit of 145,000 ETH.