A giant whale transferred approximately 33,000 Ethereum to the Binance exchange. This sparked market concerns about a potential ETH price crash. Another whale was busy dumping AAVE on the crypto exchange.
Giant whale dumped 33 thousand ETH into Binance exchange!
On-chain analysis firm SpotOnChain reported that a giant crypto whale identified as ‘czsamsunsb.eth’ uploaded approximately 33,000 Ethereum (ETH) worth $75.74 million to Binance. The analytics platform notes that the whale’s decisive action occurred when ETH reached $2,300. Notably, this transaction is in line with the whale’s historical behavior of shifting significant ETH volumes to Binance before witnessing significant price declines.
Meanwhile, the timing, as the market showed signs of recovery, fueled concerns among traders and investors. The crypto community is now speculating on the potential motivations behind this massive transfer and whether it indicates a lack of confidence in the current ETH market trajectory. Whale still holds 12,186 staked ETH on the Lido protocol, worth approximately $28.1 million. The big question is whether more ETH will carry, possibly indicating a lack of faith in the ongoing recovery.
Ethereum price performance and expectations
cryptokoin.comAs you follow from , the market is moving on a thin line. That’s why investors and traders are vigilant and anxious. News of the whale’s significant ETH transfer also resonated in the crypto world. Therefore, market observers are also waiting on alert. The question of whether the whale will make other moves increases the uncertainty regarding the near future of Ethereum. Analysts recommend that the market be prepared for potential fluctuations. He also emphasizes the importance of closely monitoring trading patterns and whale movements in the coming days.
Ethereum price traded at $2,313.15, increasing by 0.47% in the last 24 hours. Trading volume increased by over 39% to $6.14 billion in the same time period. The leading altcoin reached $2,322.65 and fell to $2,270.07 in the last 24 hours. Meanwhile, Ethereum futures open interest increased by 5.21% in the last 24 hours, reaching 3.41 million ETH or $7.91 billion, according to CoinGlass data. Leading the increase were Binance and Bybit.
Giant whale started taking profits in AAVE!
Elsewhere, a whale took profit on Aave (AAVE). According to on-chain data tracker Lookonchain, the giant whale transferred a large amount of AAVE to the Binance exchange. After this, the whale went on sale. In this context, Lookonchain shared the following:
A giant whale started selling AAVE for profit. Whale withdrew 236,779 AAVE ($17.62 million) from Binance in January and October 2023 at $74.42. And 1 hour ago he deposited 36,779 AAVE ($3.11 million) to Binance. The whale currently holds 200k AAVE ($16.88 million) with a profit of $2.37 million!
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