The amount of ETH held on exchanges has reached a record low, while top non-exchange addresses have seen a significant increase in holdings. Despite market uncertainty, Ethereum whales have been increasing their holdings, with one whale withdrawing nearly 39,300 ETH from Binance over the past month. The withdrawals occurred after price drops, leading to speculation about whether the whale is accumulating ETH for a future bull market or due to eroding confidence in centralized entities. The majority of assets withdrawn from Binance.US were ETH, indicating that investors may be shifting funds to safer places.
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