ETH Whale Nets $30M, Moves 70,000 ETH to Binance
An ETH whale executed two profitable swing trades on Ethereum, netting over $30 million by buying at dips and selling at peaks. After realizing gains, the whale transferred 10,000 ETH (~$17 million) to major exchanges and converted it into stablecoins, triggering an increase in exchange reserves and slight downward pressure on ETH price. Within the next 30 minutes, the same whale moved an additional 70,000 ETH (≈$115 million) from HTX to Binance—one of the largest single transfers between the platforms this year. Such sizable inflows often signal sell-side pressure and can precede heightened volatility. Traders will watch for rising Binance volume and shifts in ETH price trends following these large transfers.
Bearish
The ETH whale’s large-scale transfers and profit-taking suggest imminent sell-side pressure, likely weighing on prices in the short term. The 10,000 ETH move into stablecoins and the 70,000 ETH inflow to Binance may flood order books, increasing volatility and driving down ETH’s price temporarily. However, long-term fundamentals—driven by network upgrades and DeFi growth—remain intact, pointing to a potential recovery once sell-off subsides.