An Ethereum whale resumed activity after three months of dormancy, withdrawing 9,000 ETH—valued at approximately $34.66 million—from cryptocurrency exchange Bitget. The same wallet continues to hold 15,127 ETH (about $58.4 million) staked via Lido Finance.
The wallet address associated with the movements is 0x97BD75506c31530a1fDc994B53434461ED1D6653. While the purpose of the withdrawal has not been disclosed, such on-chain transfers can reflect shifts in custody, portfolio rebalancing, or preparation for on-chain activity. Moving funds off centralized exchanges does not necessarily indicate imminent selling.
Lido Finance is a leading liquid staking protocol for Ethereum, allowing holders to stake ETH while maintaining liquidity through derivative tokens. The whale’s 15,127 ETH remains staked, signaling an ongoing commitment to staking yields despite the large withdrawal from Bitget.
With ETH values implied around the mid-$3,800 range based on the reported USD amounts, market participants will watch this address for further movements that could hint at strategy changes or broader market positioning.