A major transfer of Ethereum has moved to the Japanese crypto exchange Bitpoint, drawing attention from traders and analysts.
Arkham Intelligence reported that an anonymous wallet starting with 0x3B56 sent 1,834 ETH to a Bitpoint deposit address on Monday at 12:51 UTC. The amount is worth about $5.38 million at current prices.
Bitpoint, which is regulated by Japan’s Financial Services Agency, has not commented on the deposit. Large transfers to exchanges can signal institutional activity or preparations for trading, but the purpose of this transfer is still unknown.
The movement comes as Ethereum trades near $2,930 and shows steady performance in late 2025. Analysts say that large “whale” transfers can influence short-term price trends by adding more tokens to exchanges.
The transfer was first highlighted by a post from the verified Binance account on X, which helped spread the news across the crypto community.
Researchers are now watching the 0x3B56 wallet for any further activity.
