According to on-chain analyst Ai Yi, the wallet sent Ethereum to an Amber Group deposit address after previously withdrawing 33,398 ETH from Binance at a higher average price in early 2024.
A wallet linked to Fenbushi Capital transferred 11,101 ETH valued at $21.94 million to an Amber Group deposit address, according to on-chain analyst Ai Yi. The tokens were moved at an implied price of $1,977.24 per Ether. Ai Yi said the same address had withdrawn 33,398 ETH from Binance between February and April 2024 at an average price of $3,039.36. Based on those figures, selling the transferred Ether at the cited transfer price would imply a loss of about $11.79 million. Such wallet transfers to a deposit address are commonly tracked by traders because they can indicate funds are being positioned for trading, custody, or liquidation, although the transfer alone does not confirm a sale.