A certain smart money address has recently been very aggressive in accumulating Ethereum. Just 5 hours ago, it withdrew 503 ETH for the third time from a major exchange, marking the third large withdrawal in the past two days.

In total, the wallet owner has withdrawn a total of $9.54 million worth of Ethereum from exchanges over the past two days, with an average cost basis around $3,078. The 9.57 million USDT previously deposited into the exchange has been almost fully used for building positions in this round, and the current holdings have expanded to 3,100 ETH.

This pattern of continuous large withdrawals coupled with gradually increasing holdings usually indicates that whales are optimistic about the market outlook. From the complete chain of depositing, building positions, and withdrawing, this fund movement appears highly purposeful. For traders paying attention to whale activity, such signals of increasing holdings are worth noting.