According to @ai_9684xtpa, a newly created wallet 0x311...5FD1A withdrew 7,889 ETH worth $31.41 million from Coinbase over the last 8 hours at an average withdrawal price of $3,982 (source: @ai_9684xtpa on X; Arkham Intelligence address explorer). All ETH flows were reported as originating from Coinbase, indicating a net outflow from the exchange to this address (source: @ai_9684xtpa on X). The author also notes the activity could be wallet consolidation, so traders may monitor subsequent transactions from 0x311...5FD1A to gauge whether accumulation continues or funds return to exchanges (source: @ai_9684xtpa on X; Arkham Intelligence address explorer).