July 14, 2024
Large investor transfers $66 million in ETH to Binance.

Large investor transfers $66 million in ETH to Binance.

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Large investor transfers $66 million in ETH to Binance.

What happened? On 21 April, an unknown address transferred 34,043 ETH worth $66.28 million to cryptocurrency exchange Binance, 0xScope protocol analysts reported. Meanwhile, most of the sent coins were purchased on March 11, when ETH was at $1420. Analysts suggested that the whale may be locking in profits and stated that the value of ETH may have reached a local peak.

Major transactions in ETH. On 23 February, an address of an Ethereum initial public offering (ICO) woke up after three years of inactivity and made a transaction worth 5,055 ETH (more than $8.3 million at the time). On 6 March, an unknown address transferred 10,266 ETH worth around $16 million, including 1,322 ETH (~$2 million) to the Poloniex exchange after five years of inactivity.

On 19 April, Binance opened the withdrawal of ETH from stacking, which was made possible by the Shapella hard fork six days earlier.

As of April 21, ETH is trading at $1922 on Binance, down 1.84% in a day and 4.5% in a week, according to aggregator CoinGecko. Ethereum has a market share of 18.84% and a market capitalization of $231.4 billion.

According to TokenUnlocks, 809,800 ETH worth $1.56 billion are awaiting unlocking. In the next 11 hours, 2,380 coins worth $4.59 million will be withdrawn from stacking. A total of 17.31 million coins, or 14.87% of the total supply, are locked in the contract. They are valued at $33.59 billion.

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