A whale address withdrew 7,980 ETH from an exchange 5 hours ago, accumulating over 88,000 ETH in 10 days with an unrealized profit of $49.5 million

Odaily Planet Daily reported that, according to Ember monitoring, a whale address with unidentified ownership has been continuously withdrawing ETH from a certain exchange over the past 10 days. In just the last 5 hours, another 7,980 ETH were withdrawn, bringing the total to 88,292 ETH. Based on an average price of $2,831, the current unrealized profit stands at $49.5 million. This address is newly created and has only interacted with the exchange’s hot wallet. It may belong to a US-listed company as a reserve address, or it could be an internal cold wallet of the exchange, though the latter seems less likely based on the transaction patterns.