Whales on Ethereum: Huge Withdrawal from Binance in Two Days!
The large whale movements on Ethereum continue; in the last two days, an investor has withdrawn approximately $93.5 million worth of ETH from Binance.
According to data shared by the blockchain analysis platform Lookonchain, the address 0xFC82, thought to be a large Ethereum (ETH) whale or institutional investor, transferred a total of 33,500 ETH from the Binance exchange to its own wallet in just two days. The total current market value of these withdrawals is around $93.5 million.
Such large-scale Ethereum withdrawals usually lead to various comments on the market. Such movements generally indicate the whales' intention to hold for the long term and can contribute to the upward movement of the price by reducing the selling pressure on the exchange. However, in some cases, investors are observed to be more cautious about the market and move their ETH to safe cold wallets.
