
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.
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.