- Matrixport wallet pulled 40,734 ETH from Binance and OKX fast
- Abraxas moved 48,823 ETH into DeFi via Aave and Ether.fi
- 89K ETH left exchanges-tightening supply and boosting volatility
Two institutional-linked Ethereum wallets have withdrawn more than $230 million worth of ETH in just 24 hours. The transactions span Binance, OKX, and Kraken, pointing to a clear shift toward private custody and DeFi-based allocations.
Ethereum Flows Intensify as Traders Track Institutional Demand
Ethereum traders closely tracking liquidity movements are now seeing a wave of large-scale institutional exits. A wallet tied to Matrixport moved 40,734 ETH-worth $104 million out of Binance and OKX in coordinated blocks. According to a post by Lookonchain, this wallet executed two outbound transfers of 5,000 ETH each to addresses 0x040F…e2CaE and 0x20AC…6C6c.
This same wallet received 163 ETH from Deribit and another 163 ETH from OKX, each valued at over $422,000. More than 20,000 ETH passed through this address in a few hours, showing fast-paced execution. These movements originated from Binance hot wallets including 0x56E and 0x21a, eventually landing in less traceable destinations.
Traders need to stay alert. The pace and size of these outflows show intent. Less ETH on exchanges often means a heightened price reaction to new inflows or spot buying.
Abraxas Capital Scales Up DeFi-Driven Execution Strategy
Meanwhile, Abraxas Capital Management moved 48,823 ETH-valued at approximately $126 million-off Binance and Kraken into DeFi protocols. According to Lookonchain, this transition unfolded across 20+ transactions, with individual transfers ranging from 2,000 to 3,400 ETH.
Assets were directed toward Aave’s WrappedTokenGatewayV3 and Ether.fi’s DepositAdapter, reflecting a growing preference for on-chain allocation. Binance wallets including 0x969, 0x497, and 0xDfD were used repeatedly. One notable transaction moved 3,460 ETH valued at $8.72 million in a single block.
The repeatability and tight sequencing of these flows show high automation. This suggests Abraxas is executing a structured ETH strategy involving DeFi lending, custody, and staking. The consistent volumes signal long-term positioning speculative churn.
Ethereum Custody Shifts from CEX to On-Chain Positions
Ethereum’s institutional demand profile is evolving rapidly. With 89,000 ETH now off exchanges, supply continues tightening. The shift in ownership patterns shows direct intent and strategy across every transaction tracked.
This level of transfer coordination means traders should anticipate thinner liquidity and sharper volatility on the spot market. Institutions are acting decisively, and Ethereum’s market structure is feeling the weight of those moves.
