Suspected '1011 Whale' Withdraws $218 Million in Ethereum from Binance

Onchain Lens reports multiple whale transactions, including new LINK and ETH withdrawals worth $13.98M, adding to earlier large-scale movements from dormant crypto addresses.

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Summary

Onchain Lens initially reported a suspected '1011 whale' withdrawing 77,385 ETH worth about $218 million from Binance, alongside another whale moving 171 BTC valued at $15.79 million. On December 6, the platform detected a separate whale withdrawing $13.98 million from Binance and Kraken, now holding $74.83 million in assets including 1.62 million LINK and 6,050 ETH. These transactions highlight continued large-scale activity from significant crypto holders.

Terms & Concepts
  • Whale: A term for an individual or entity holding large amounts of cryptocurrency, capable of influencing market prices.
  • Ethereum (ETH): A leading blockchain platform and cryptocurrency known for enabling smart contracts and decentralized applications.
  • Binance: One of the world's largest cryptocurrency exchanges by trading volume.