A crypto whale tracked as 0xeCE7 shifted $225 million in USDC onto Binance, Bybit, and Deribit and then pulled 32,007 Ethereum (CRYPTO: ETH)—valued at about $77.52 million—off Binance after buying. The burst of activity arrives as a long-dormant Bitcoin whale has resurfaced, moving roughly $469.8 million in BTC after more than 14 years of silence and reminding traders how closely markets watch big wallets.
In a post on X, Lookonchain reported that the same address funneled the USDC to multiple venues over about 10 hours before withdrawing the 32,007 ETH from Binance. The post pegged the ETH haul at $77.52 million.
Mysterious Whale Activity Sparks Market Speculation
The Ethereum move stood out for its sequencing: stablecoins went in first, then ETH came out, a pattern that can signal planned execution across exchanges and derivatives venues. The inclusion of Deribit alongside spot-heavy platforms like Binance and Bybit also put options and hedging tools in focus.
Large transfers can also put a spotlight on operational security, not just strategy. In the Bitcoin case, the revived wallet made a small “test” transfer worth $218 before sending the much larger amount, a behavior often read as a cautious check that keys and routing still work.
That same Bitcoin wallet had been inactive since January 15, 2011, after accumulating BTC over two days starting January 13, 2011. Over that stretch, Bitcoin’s price climbed from around $0.393 to $118,561, a gain of at least 30,168,093%.
What Does The Bitcoin Whale Move Mean?
Crypto watchers often treat dormant-wallet awakenings differently from active-trader flows because they can raise questions about intent, custody, and whether coins might be headed toward exchanges. Less than a month earlier, two other addresses moved 80,000 BTC after sitting still since April 2011, adding to the market’s sensitivity around old coins suddenly moving.
Security risks can be part of the story as well, particularly for high-profile addresses that have been visible on-chain for years. The long-idle Bitcoin wallet may have faced dusting attacks, which involve sending tiny amounts to an address in an attempt to link activity and identity.
For Ethereum whales like 0xeCE7, the equivalent concern is that any repeatable behavior—funding routes, timing, and counterparties—can create patterns that observers try to map. The 0xeCE7 address routed $225 million USDC to Binance, Bybit, and Deribit before removing 32,007 ETH from Binance.
Tracking The Resurgence Of Dormant Wallets
Some observers have also flagged that not every old-wallet movement is straightforward. Coinbase director Conor Grogan previously suggested the April 2011-dormant addresses that moved 80,000 BTC could have been recipients of coins taken in a hack.
Separately, Santiment said earlier this week that the count of Bitcoin whales holding more than 1,000 BTC dipped slightly alongside a modest pullback in BTC’s price. Against that backdrop, both the revived Bitcoin wallet and the fast, exchange-linked ETH buying cycle show how quickly whale flows can become a focal point for traders parsing supply, intent, and risk.
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This article Crypto Whale Moves $225 Million USDC Before Pulling $77.52 Million Ethereum originally appeared on Benzinga.com
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