Dormant Ethereum Whale Sells Millions in ETH on Binance With Massive Profit: Details

Yuri Molchan

Old Ethereum whale has stirred, sending large amount of ETH to world’s largest exchange immediately

Blockchain sleuth @OnchainDataNerd has reported that earlier today, a whale awakened after three years of zero activity and made a big transfer of ETH to the Binance exchange.

Dormant whale moves millions in ETH to Binance 

The whale deposited 4,500 ETH currently worth almost $7 million in fiat to Binance while the coin’s price still remained at $1,542.

@OnchainDataNerd pointed out that this whale had purchased 11,900 ETH in total for $2.89 million back in June 2020 on the Bitfinex exchange. Three years ago, the whale paid $243 per Ether, and now the coin’s price has gone up by more than six times.

If he sells all his Ethereum bought then now, the profit will constitute $15.56 million, per @OnchainDataNerd’s X post.

Close to 60,000 ETH sent to top exchanges today

A lot more Ethereum has been moved to centralized crypto exchanges than what the above-mentioned whale deposited. According to recent X posts by prominent blockchain tracker Whale Alert, whales have moved 59,860 ETH in total to two leading crypto exchanges — Coinbase and GateIO.

Lumps of 22,699 ETH and 22,157 ETH were deposited to Coinbase by anonymous whales, and 15,000 ETH was transferred to GateIO. Altogether this amount of crypto makes up $92.3 million in fiat.

Top 10 Ethereum wallets increase their balances

As reported by on-chain data aggregator Santiment earlier this week, top 10 Ethereum wallets, both belonging to exchanges and not associated with them, have been accumulating additional amounts of the second largest cryptocurrency.

Now, the top 10 addresses on exchanges contain 8.51% of the total Ethereum supply. As for wallets outside crypto exchanges, they have increased their holdings to a whopping 39.22 million ETH.

About the author