Ethereum Whale Withdraws 10,000 ETH from Binance After Two Years of Inactivity

Ethereum Whale Withdraws 10,000 ETH from Binance After Two Years of Inactivity

A major Ethereum holder shifted tens of thousands of ETH between Binance and personal wallets, turning a large unrealized profit into a significant paper loss.

ETH

Fact Check
The statement provides very specific figures (3,947 ETH and a loss of $11.97 million), which is characteristic of data originating from on-chain analysis. The first source listed, Lookonchain, is a highly authoritative and credible on-chain analytics firm known for publishing exactly this type of information. Although the provided URL is for their main X (Twitter) feed and not a specific post, it strongly suggests that Lookonchain is the primary source for this claim, lending it significant credibility.Sources 3, 4, and 5 report on other, similar events involving large ETH transfers to Binance after losses, but with completely different financial figures ($44.9M, $42.7M, $292M). These sources do not contradict the statement in the query; they simply describe different, unrelated transactions. Their presence confirms that this type of event is regularly tracked and reported, but they do not provide direct evidence for or against the specific claim in question.Therefore, the assessment hinges on the high authority of the implied primary source (Lookonchain) and the specificity of the data, which is typical of their reporting. The lack of any direct contradictory evidence makes the statement very likely to be true.
Summary

Onchain tracking shows an Ethereum whale deposited 24,452 ETH worth $50.05 million to Binance while retaining 56,528 ETH valued at $115.3 million. This move altered the whale’s position from a $47.5 million profit to a $57.3 million unrealized loss. The latest transfer follows earlier activity, including a withdrawal of 10,000 ETH from Binance after two years of dormancy and the staking of over 43,000 ETH between March 2023 and April 2024, suggesting an ongoing high-volume trading strategy.

Terms & Concepts
  • Whale: A term describing an investor who holds a large quantity of cryptocurrency, capable of influencing market prices through sizeable transactions.
  • ETH: Ethereum's native cryptocurrency, used for transactions, smart contracts, and as a store of value in the Ethereum ecosystem.