Ethereum Whale Withdraws 5,000 ETH Worth $21.77 Million from Binance
An Ethereum whale that previously accumulated 86,001 ETH has continued transferring assets to Binance, moving 9,000 ETH worth over $41 million in its latest transaction as part of a broader profit-taking strategy.
ETH
Fact Check
Multiple sources strongly corroborate the statement. Evidence from blockchain.news and coinstats.app specifically confirms a whale (address 0x19bA) withdrew 5,000 ETH valued at $21.77 million from the Binance exchange. Other sources confirm the 5,000 ETH withdrawal with a slightly different valuation ($21.57 million), a minor discrepancy likely due to price fluctuations.
Summary
On-chain data revealed that an Ethereum whale or institutional address, which accumulated 86,001 ETH between June 22 and August 12 at an average price of $3,023, has recently transferred 9,000 ETH valued at $41.56 million to Binance. Over the past three days, this entity has moved a total of 15,010 ETH worth $68.77 million to the exchange at an average price of $4,582. The transactions suggest continued profit-taking, potentially adding to market selling pressure.
Terms & Concepts
- ETH: The native cryptocurrency of the Ethereum network, used for transactions, gas fees, and as a store of value.
- Binance: One of the largest cryptocurrency exchanges globally, offering a wide range of trading pairs, including Ethereum.