Crypto Whale Shifts from ETH Short to Long, Moves $100M USDC to Binance
An Ethereum whale previously known for massive short positions has moved tens of thousands of ETH to Binance, indicating potential renewed large-scale sell pressure.
ETH
USDC
AAVE
Summary
An Ethereum whale who had previously shorted 66,000 ETH deposited 26,000 ETH worth $82.47 million to Binance about 40 minutes ago, according to on-chain monitoring. Earlier, the same whale withdrew 177,000 ETH from Aave and deposited 44,000 ETH to Binance, suggesting ongoing large-scale selling activity. These actions come after earlier movements in November, when the whale shifted from short to long exposure with significant holdings withdrawn from centralized exchanges.
Terms & Concepts
- Whale: A market participant holding large amounts of cryptocurrency, capable of influencing prices.
- Binance: One of the world's largest cryptocurrency exchanges, offering trading, withdrawals, and other crypto-related services.
- ETH (Ethereum): A blockchain-based cryptocurrency used for transactions, smart contracts, and decentralized applications.