On-chain monitoring data shows that an active Smart Money address has withdrawn 1,458 ETH from top-tier exchanges in the past two hours. Combined with previous positions, this address has accumulated a total of 2,597 ETH in the current cycle, worth approximately $7,993,000. Interestingly, the average cost basis for these holdings is only $3,078 per ETH.

What does this continuous and large-scale withdrawal activity indicate? Generally, such behavior reflects optimism among large investors or institutions about the future market. They are not only increasing their holdings but also transferring coins to self-custody addresses, which often suggests a long-term holding intention or anticipation of higher prices. From the perspective of token distribution, whale accumulation is quite steady, and this patient capital often has a clear view of market cycles.