Ethereum Heads for Worst October Since 2018 as Early Whales Wake Up

By late October, Ethereum had fallen 13.6% for the month, putting it on course for its weakest October since 2018, as US spot Ethereum ETFs recorded about $1.35 billion in net outflows and long-dormant wallets moved more than $140 million in ETH. Between October 5 and 29, over 10 large transfers from idle wallets moved about 56,000 ETH, with four of the five largest going directly to Coinbase or Kraken; the biggest sent 13,330 ETH, about $36.37 million, to Coinbase. The ETFs posted net outflows on 17 of 20 trading days through October 28, the second-largest monthly outflow on record. Coins sent to exchanges can be sold, but on-chain records do not establish that a sale occurred.