Crypto Whale Withdraws Over $103 Million in Ethereum from Binance – Lookonchain Reports
Onchain Lens data reveals a whale borrowed $155 million USDT to acquire 65,700 stETH, boosting its total ETH holdings to over $460 million across two wallets.
On January 19, Onchain Lens reported a major transaction by a crypto whale, who borrowed $155 million USDT within four hours to purchase 65,700 stETH. This increased the whale’s total holdings to 142,777 ETH across two wallets, valued at approximately $460.11 million. Earlier Lookonchain data showed the whale withdrew 32,395 ETH, worth $103.75 million, from Binance after leveraging stETH via Aave. Previous transactions included withdrawing 10,057 ETH, staking it on Lido for stETH, and borrowing $45 million USDT to buy more stETH, illustrating an ongoing large-scale leveraged DeFi strategy.
- stETH: A liquid staking derivative token representing Ethereum staked on the Lido protocol, allowing users to maintain liquidity while earning rewards.
- Aave: A decentralized finance protocol that enables users to lend and borrow various cryptocurrencies without intermediaries.
- Whale: A term used to describe an individual or entity that holds a significant amount of cryptocurrency, capable of influencing market movements.