8,920 ETH Sent to Binance at $2.12M Unrealized Loss
On-chain analysis shows one address moved 8,920 ETH (approx. $24.85M) into Binance in the past hour. These assets were withdrawn from exchanges between March 2024 and February 2025 at an average rate of $3,024 per ETH. Selling at current market levels would trigger a $2.12M unrealized loss. After the transfer, the wallet holds just 0.04238 ETH, signaling almost complete liquidation. This whale deposit may increase short-term selling pressure on Ethereum and affect ETH price volatility.
Bearish
The significant deposit of 8,920 ETH to Binance by a whale at a loss suggests imminent selling, typically increasing short-term selling pressure and market volatility for ETH. Historically, large on-chain transfers of ETH to exchanges have preceded price dips, as seen in March 2024 when a 10,000 ETH inflow to Coinbase triggered a 5% correction. While this could lead to immediate bearish sentiment and price pullback, long-term recovery may follow if demand absorbs the supply. Traders should monitor exchange balances and order book depth to anticipate potential ETH price movements.