Whale Transfers 400 ETH to Binance With $693K Profit
An address that accumulated over 32,000 ETH in mid-2024 deposits 9,000 ETH to Binance, signaling potential profit-taking amid Ethereum's price surge.
ETH
Summary
On September 19, blockchain analyst Ai Yi reported that a whale address transferred 9,000 ETH, worth $41.55 million, to Binance within 40 minutes. This address had accumulated 32,356 ETH between June and August at an average price of $3,027. Since September 15, it has moved a total of 15,010 ETH worth about $68.8 million to exchanges, potentially yielding a $23.37 million profit if sold entirely.
Terms & Concepts
- Ethereum (ETH): The second-largest cryptocurrency by market capitalization, used for transactions and powering decentralized applications on the Ethereum blockchain.
- Binance: One of the largest global cryptocurrency exchanges, providing trading services for digital assets such as Ethereum.
- Whale: A term used to describe an individual or entity that holds a large amount of cryptocurrency, capable of influencing market prices with large transactions.