Ethereum

WHALE

<h2 id="header-0">Likely Profit-Taking as ETH Price Rallies</h2>An enormous<a href="https://cryptosnewss.com/whales-accumulate-over-100-bitcoin-after-grayscale-etf-ruling/" rel="noopener noreferrer nofollow"> Ethereum whale</a> has transferred over 30,000 ETH worth $55 million to Binance, presumably to sell after building up a sizable position when prices were lower.According to on-chain data, this whale had previously withdrawn over 42,000 ETH from Binance starting in September. At the time, ETH traded around $1,667 on average.With <a href="https://cryptosnewss.com/category/ethereum-news/" rel="noopener noreferrer nofollow">Ethereum</a> now changing hands close to $1,800, the whale seems to be moving coins back to <a href="https://cryptosnewss.com/binance-us-halts-usd-withdrawals-amid-legal-battle/" rel="noopener noreferrer nofollow">Binance</a> to lock in gains from their sub-$1,700 accumulation.<h2 id="header-1">Whale Movements Closely Watched</h2>Large individual wallet transactions often generate significant market buzz and volatility. As dominant forces, crypto whales can greatly sway prices through their actions.This latest transfer has traders speculating whether heavy selling pressure may materialize if the whale liquidates their position.<h2 id="header-2">Billionaire Whales Control a Third of ETH Supply</h2>Analysis shows wallets holding over 1 million ETH now account for 32% of total supply – the highest ratio since 2016._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/massive-ethereum-whale-shifts-55-million-to-binance-after-withdrawals/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on October 25, 2023.

Massive Ethereum Whale Shifts $55 Million to Binance After Withdrawals

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