A report shared by on-chain data aggregator Sentora (formerly known as Intotheblock) shows a massive leak of Ethereum from cryptocurrency exchanges that occurred within a day.
That happened as market sentiment has become bullish and investors are beginning to start skimming ETH. Meanwhile, open interest in ETH futures has also skyrocketed, reaching its highest ever high.
Investors crave ETH and withdraw exchanges
On Wednesday, 140,120 ETHs, valued at around $393 million, were withdrawn from the crypto exchange, according to a recent tweet from Sentora. The tweet emphasized that this was “the largest one-day withdrawal in more than a month.”
Yesterday, over 140,000 ETHs, worth around $393 million, surged out of the exchange, marking the largest one-day withdrawal in over a month. pic.twitter.com/rvz9pk8pos
– Sentora (formerly Intotheblock) (@sentorahq) June 12, 2025
This massive spill coincided with Ethereum prices above the $2,760 price level. The previous time, a similar cumulative ETH withdrawal took place on May 12th, but at that moment ETH was trading at around $2,520 per coin.
ETH futures OI reaches $20 billion
Another large source of data on the chain, GlassNode revealed that open interest (OI) in Ethereum futures has reached a record $20 billion after a recent gradual spike. The tweet also points out that traders continue to build leverage as they continue to upload stub coins such as USDT, USDC and more.
This OI is driven by cash-based contracts and stubcoin leverage and a noticeable rise in IT, indicating an increase in trader speculation despite a significant price drop of 4.31% over the last 24 hours as ETH lost its $2,800 level. At the time of writing, his assets have changed hands at $2,745.
$eth Futures Open Interest (Cash Margin) hit the highest new amount ever. Despite a slight pullback from the $2.8K level, leverage continues to build as traders load up using Stablecoins. pic.twitter.com/xp3kmhkdj1
– GlassNode (@GlassNode) June 12, 2025
Smart Whale buys eth just for sale
X Social Media Platform analytics account @spotonchain recently discovered a big whale (probably a financial institution) selling ETH and decided to buy back some of the Ethereum coins it recently dumped.
The clever institution that made $30.45 million from $eth is back just a day after sale!
On June 10th, Whale sold $30,000 ETH for $78.63 million on average in an OTC deal with #WinterMute. Locks a $2,621 price, $6.72 million profit (+8.91%) after 15 days of holding.
– June 12, 2025, spots from the chain (@spotonchain)
The tweet called the whale a “smart institution” and recently won $30.45 million in trade ETH. He acquired ETH immediately after sale, and on June 10th he sold 30,000 ETH for $78.63 million on WinterMute before winning $15,000 ETH $46.5 million. His profit from sales accounted for $6.72 million after holding ETH for 15 days.
However, as prices rose, the whales paid on average $2,818 per ETH, selling for $2,621.