Ethereum Whales show bullish sentiments as they move over $92,020,000 in ETH from Binance: Lookonchain 🐋
A few crypto whales have made significant purchases of Ethereum (ETH) recently, suggesting that the largest crypto holders may be becoming bullish on the second-largest digital asset by market cap.
Whale Activity Analysis 🐋
- One whale wallet believed to be owned by Tron (TRX) founder Justin Sun withdrew 4,666 ETH valued at $14.91 million from Binance on Monday
- The same whale had already bought 132,054 ETH worth $420 million since April 8th
- Another new whale wallet withdrew 7,182 ETH worth $23.06 million from Binance on Monday
- A third whale wallet withdrew 11,892 ETH valued at $37.77 million from Binance over Sunday and Monday
- This wallet later deposited ETH into the lending platform Compound (COMP) and borrowed USDT
- Additionally, a fourth wallet withdrew 5,181 ETH worth $16.28 million from Binance over the weekend
- The ETH was staked into non-custodial liquid restaking protocol Bedrock and the DeFi project Pendle (PENDLE)
ETH Market Status 📈
- At the time of writing, ETH is trading at $3,215
- The second-ranked crypto asset by market cap has seen a more than 4% increase in the past week but is down nearly 7% in the last month
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Hot Take: Ethereum Whales Positive on ETH Movement 🌊
A substantial amount of ETH leaving Binance in recent days indicates a bullish sentiment among Ethereum whales. With major holders making significant investments and moving ETH into various platforms, the outlook for Ethereum seems optimistic. Keep an eye on whale activities for potential market trends and insights into the crypto space.
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