ETH Whale Buys 30,549 ETH from Binance, Holdings Hit $1.33B
Onchain Lens data shows an ETH whale repurchased 30,549 ETH from Binance on November 12, spending $105.36 million. This ETH whale had previously borrowed and shorted 66,000 ETH. Its total holdings now stand at 385,713 ETH, valued at about $1.33 billion. The on-chain accumulation highlights sustained bullish sentiment among large holders.
Bullish
A large-scale buy by a whale that had previously shorted ETH signals strong conviction in Ethereum’s price recovery. Such significant on-chain accumulation often supports higher price floors by reducing available supply on exchanges. Historically, whale purchases from Binance have preceded short-term rallies, as traders interpret these moves as bullish signals. In the short term, this activity could boost market confidence and trading volumes. Over the longer term, continued accumulation by major holders may underpin sustained upward momentum and counter bearish pressure.