The cryptocurrency wallet at address 0x17c…1F70C just withdrew 1,501 ETH worth 7.16 million USD from Binance after six hours of monitoring.
In the past three months, this wallet has accumulated 6,468 ETH with unrealized profits of 7.414 million USD, after a three-month pause before ramping up purchases when the market recently plummeted.
MAIN CONTENT
Withdrew 1,501 ETH (7.16 million USD) from Binance after 6 hours of observation.
Accumulated balance of 6,468 ETH with unrealized profits of 7.414 million USD over 3 months.
Inactive wallet for 3 months, then bought more when the market plummeted.
How much ETH did wallet address 0x17c…1F70C just withdraw and what is its value?
This cryptocurrency wallet transferred 1,501 ETH equivalent to 7.16 million USD from Binance about six hours ago at the time of observation.
The ETH withdrawal transaction confirms the wallet's activity after a long period of low volatility, monitored to detect trends of outflows from the exchange, signaling actions that could impact the market.
How much ETH has this wallet accumulated and what is the current unrealized profit?
In the past 3 months, this address has held a total of 6,468 ETH and unrealized profits of approximately 7.414 million USD, reflecting an average purchase price of about 3,576 USD per ETH.
This unrealized profit figure indicates that the wallet had an appropriate buying strategy, showing sensitivity to market prices and demonstrating effectiveness during recent market volatility.
What explains the prolonged inactivity of the wallet for 3 months?
The wallet address has not made any transactions for 3 months since establishing a position on June 7 until the market experienced a sharp decline 4 days ago.
This pause indicates the wallet owner's waiting strategy to observe market fluctuations before increasing their ETH holdings when prices drop, a common action among experienced investors.
“Monitoring the inflow and outflow of large wallets helps us assess the trends of institutional investors and the supply in the cryptocurrency market.”
– Cryptocurrency market analyst, Vietnam Blockchain Seminar 2023
Frequently Asked Questions
How has wallet address 0x17c…1F70C been active recently?
The wallet remained calm for 3 months, then just withdrew 1,501 ETH (7.16 million USD) after accumulating a total of 6,468 ETH with significant unrealized profits.
What is the average price of each ETH at the moment?
The average purchase price recorded by this wallet is about 3,576 USD per ETH, based on the total amount and current profits.
What does withdrawing ETH from Binance mean for the market?
Large withdrawals from wallets can reflect changes in investment strategy and affect liquidity on major exchanges.
What signs does the inactivity of the wallet for 3 months show?
Indicates a waiting strategy, observing the market before reallocating capital when ETH prices drop significantly.
How to track important wallet transactions in the cryptocurrency market?
Through a transparent blockchain analytics page, allowing monitoring of ETH movements and specific trading activities.
Source: https://tintucbitcoin.com/rut-1-501-eth-tu-binance-gan-day/
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