The withdrawal of 13,771 ETH, worth approximately $36.4 million, by Abeloa from the exchange reflects institutional optimism towards Ethereum in the long term. This action may be based on several key factors, from the explosion of the Ethereum Layer 2 ecosystem to the growth potential of staking, as well as market expectations for a batch of spot ETFs. Large withdrawals usually indicate that institutions prefer to hold rather than engage in short-term trading, possibly positioning themselves for the next bull run.

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