A wallet attributed to venture firm Andreessen Horowitz (a16z) withdrew 25,560 ETH, worth about $42.62M, from Binance on Tuesday, per onchain intelligence tracker Lookonchain. The move has drawn attention as a potential accumulation play amid a sustained ETH drawdown.
Lookonchain identified the receiving address as 0xb5E4d21240e9356caFc3a1261d10383f62DFc24e on the Arkham intelligence platform, linking it to the a16z organization. The wallet received the full 25,560 ETH in a single withdrawal from the exchange, implying an average entry price of roughly $1,668 per token based on the stated dollar value.
ETH was trading around $1,560 on Wednesday, down about 5.7% over the prior 24 hours and roughly 26.9% over the past 30 days, per CoinGecko. The token sits 68.5% below its all-time high of $4,946, reached in August 2025.
The implied entry price of $1,668 is slightly above current levels, suggesting the withdrawal occurred while ETH was already in a multi-week slide from above $2,100 in late May.
A16z crypto, the firm's dedicated digital-assets arm, raised a $2.2B fund in 2024 with stated focus on converting new crypto infrastructure into consumer products. The firm has backed a broad range of Ethereum-native protocols including Uniswap, Compound, and MakerDAO, making ETH a natural balance-sheet holding alongside its venture positions.
