Ethereum whales moved more than 100,000 ETH out of centralized exchanges on October 22, 2026, with large transactions pointing to accumulation and a shift toward staking and DeFi lending. On-chain data highlighted by Lookonchain showed the wallet 0x4A85 withdrew 10,954 ETH from Kraken after four months of inactivity and staked the assets. Around the same time, wallet 0xdeA6 pulled 9,000 ETH from Binance and deposited it into Aave, while wallet 0xD338 withdrew another 4,500 ETH from Binance. The combined exchange outflows covered more than 24,000 ETH in the first cluster of activity.
In a separate and larger transaction, 80,000 ETH worth approximately $194 million was transferred from Binance to the Beacon Deposit contract, according to crypto market commentator @whale_alert. The move drew immediate attention because Beacon Deposit transfers are associated with Ethereum staking, potentially reducing liquid supply available on exchanges.
The activity occurred amid mixed trading conditions and relatively low volume across the broader crypto market. Some traders view the withdrawals as a bullish signal, as large holders positioning ETH in staking or lending protocols may indicate reduced near-term selling pressure. Binance’s importance to Ethereum market structure was also highlighted, including its substantial share of Ethereum open interest and its continued integration of Ethereum into services such as the Binance Web3 Wallet.
Market participants are watching for follow-on whale transfers and any sustained decline in exchange reserves, which could support a more positive Ethereum trajectory. However, the broader market remains cautious, and these movements alone do not guarantee price appreciation.
