$200M ETH Hits Exchanges as Whale Cost Line Comes Back Into Focus

About 60,000 ETH, worth nearly $200 million, moved to exchanges in the past 24 hours, according to Santiment data shared by @alicharts. Meanwhile, ETH traded near key on chain levels as whale realized price signals and Ethereum linked treasury stocks added new market cues.

60,000 ETH moved to exchanges in 24 hours, Santiment data shows

About 60,000 Ethereum (ETH), valued at nearly $200 million, moved to cryptocurrency exchanges over the past 24 hours, according to data shared by analyst Ali Martinez, known as @alicharts, citing Santiment.

Ethereum Exchange Inflows and Exchange Supply Chart. Source: Santiment via @alicharts

The update flagged a jump in exchange inflows, a metric traders often watch because transfers to exchanges can raise immediately available supply for spot trading. The post did not identify the wallets or exchanges involved.

A chart attributed to Santiment alongside the post showed ETH trading near $3,247 at the latest reading. The same chart showed exchange supply around 1.22 million ETH, after a sharp step down earlier in the week and a smaller rebound near the end of the period.

Ethereum’s market has stayed choppy through mid December, with price swings following a sharp drop earlier in the week and a steadier move higher afterward. The latest inflow figure adds a new data point for exchange activity as traders track how quickly deposits convert into spot selling or remain idle on platforms.

Ethereum treasury stocks rebound as traders watch ETH buying power

Several public companies tied to Ethereum treasury strategies showed a rebound on recent trading charts, after steep declines earlier in the year, according to a post by trader Ted, known as @TedPillows.

Ethereum Treasury Companies Price Charts. Source: @TedPillows

The shared screen showed short term recoveries across multiple names, including BitMine Immersion Technologies, SharpLink Gaming, Dynamix Corporation, and Bit Digital. In the latest readings shown, BitMine traded near $38.93 in premarket, SharpLink near $11.66, Dynamix near $10.46, and Bit Digital near $2.46.

Ted said the bounce matters because stronger equity prices can improve a firm’s ability to raise capital, which can later translate into additional ETH purchases. However, the same charts also showed these stocks still sitting well below earlier peaks, after sharp selloffs that hit several crypto linked equities.

ETH trades near whale realized price for fourth time since 2020, CryptoQuant data shows

Ethereum has moved very close to the realized price of large whale wallets holding at least 100,000 ETH, marking only the fourth such instance since 2020, according to data shared by analyst Rand, known as @cryptorand, citing CryptoQuant.

ETH Whale Realized Price vs ETH Price Chart. Source: CryptoQuant via @cryptorand

In a post on X, Rand noted that ETH has previously reached this level three times over the past five years. Each earlier occurrence coincided with periods when Ethereum later posted strong price recoveries, based on historical chart data.

The chart tracks ETH price against the realized price of whale balances and highlights four moments where the two lines converged closely. The latest convergence appears in late 2025, following a sharp pullback from recent highs, as large holder cost bases once again align with spot market levels.