Summary
- A whale deposited 14,977 ETH to Binance, amounting to approximately $40.57 million in value.
- Following previous purchase and withdrawal records, this large deposit suggests the possibility of increased selling pressure on the exchange.
- Currently, Ethereum's price shows a 4.80% decline compared to the previous day, indicating potential increase in short-term volatility.
Data shows that an anonymous whale address has deposited a large amount of Ethereum (ETH) to Binance over the past 2 hours.
On the 24th (local time), LookOnChain reported via X that "a whale has deposited 14,977 ETH to Binance over the past 2 hours," noting that "this amounts to approximately $40.57 million." They added that "since March 20 last year, they have deposited a total of 30,768 ETH (approximately $90.37 million) to Binance" and that "their current Ethereum holdings are 3,920 ETH, with total profits exceeding $40 million."
This whale had previously withdrawn 32,417 ETH ($60.50 million) from Binance between April 28 and June 26, 2023. The average purchase price was $1,866.
Typically, large deposits to exchanges can lead to increased selling pressure and may cause short-term volatility.
As of 7:46 PM, Ethereum is trading at $2,672 on Binance's USDT market, down 4.80% over the past 24 hours.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
