On Wednesday, a significant crypto whale moved 12,000 ETH to Binance, as reported by Lookonchain. Despite ongoing regulatory concerns, Ether saw an 11% surge in value on the same day.
The investor, identified as a whale due to their substantial holdings acquired since 2017, transferred a sizable amount of ETH to Binance, possibly indicating an intention to liquidate the holding. The transaction, conducted by the address x50b42514389F25E1f471C8F03f6f5954df0204b0, amounted to $42.8 million at the time of transfer, constituting about 0.01% of the total circulating supply of Ethereum.
This transfer follows a similar move just a day prior when the same address shifted nearly 9,000 ETH to Binance, accompanied by the withdrawal of 30 million USDT (Tether), the largest dollar-pegged cryptocurrency.
The action prompted speculation within the crypto community, with Lookonchain suggesting the possibility of the whale selling the ETH….
