FBG Capital Moves 16,524 ETH to Binance According to a recent report by EmberCN, a wallet address believed to be associated with FBG Capital deposited a significant amount of Ethereum (ETH) to the Binance exchange. The transaction, totaling 16,524 ETH, occurred approximately 30 minutes ago. Potential Profit-Taking Strategy The deposit is estimated to be worth $7.98 million and is speculated to be a profit-taking maneuver. Data indicates that the address acquired 21,500 ETH in late July and early August, spending 84 million USDT. Implications for ETH Price? Deposits to centralized exchanges are often seen as an indicator of intent to sell. Whether this ETH deposit will result in downward pressure on the ETH price remains to be seen. Market participants will be closely watching the situation. ```

#ETH