The situation of ETH net withdrawals from Binance: Latest report from on-chain analysis
The large withdrawal event of the new address
On June 23, the on-chain analysis platform updated a notable event related to the cryptocurrency ETH. The new address owner 0x395…45500 has made a large net withdrawal from the Binance exchange in the past 24 hours. In total, this address has withdrawn over 32,356 ETH, worth approximately 72.45 million USD. This action indicates an increase in uncertainty or a defensive strategy by a large investor in the market.
Net withdrawal analysis and market impact
On average, each withdrawal from this address was made at a price of about 2,278 USD/ETH. Currently, this amount is facing a loss of about 1.132 million USD. Significant net withdrawals from new addresses often raise concerns about sell-off pressure and short-term bearish trends in the cryptocurrency market. Analysts closely monitor these movements to predict behavior ahead of corrections or recoveries of Bitcoin and other altcoins.
Source: https://tintucbitcoin.com/rut-32356-eth-khoi-binance-trong-24h/
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