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Onchain Lens: New Address Withdraws 3,601 ETH from Binance, Sends 32 to Everstake

A newly created wallet has withdrawn 3,601 ETH worth $15.82 million from Binance, with plans to stake the full amount, starting with 32 ETH sent to Everstake.

ETH

Summary

On Sept. 1, a newly created address withdrew 3,601 ETH, valued at approximately $15.82 million, from Binance. The wallet then sent 32 ETH to Everstake for staking, with intentions to stake the entire amount. This action highlights ongoing institutional participation in Ethereum-based staking activities.

Terms & Concepts
  • On-chain tracker: A service that monitors and reports blockchain transactions and wallet activity in real time.
  • Staking: Locking cryptocurrency to help secure a network and potentially earn rewards.
  • ETH (Ether): The native cryptocurrency of the Ethereum network, used for transactions and fees.