Sun Moves 160K ETH to Binance as Whales Accumulate Ethereum
Justin Sun, advisor to HTX, transferred 50,600 ETH from HTX to Binance via Aave redemption and a recovery wallet. This transfer adds to a week-long outflow of 160,600 ETH (≈$518M). Large Ethereum inflows to Binance often signal potential selling pressure and increased market liquidity. However, major whales also boosted their Ethereum holdings. On-chain data shows SharpLink bought 4,904 ETH, and address 0x9684 withdrew 19,550 ETH this week. Institutional firm BlackRock acquired 158,875 ETH in one day and 307,461 ETH over two days, raising its total to 2.46M ETH. Ethereum’s price jumped 20% to $3,566 in seven days. Traders should watch Ethereum exchange inflows, order book depth, and whale accumulation for near-term volatility and market direction.
Neutral
The large transfer of 160,600 ETH to Binance may increase selling pressure in the short term as traders watch exchange inflows and market liquidity. At the same time, significant whale and institutional accumulation—including BlackRock’s purchase of over 300K ETH—provides strong buy-side support. These offsetting forces suggest mixed near-term signals for Ethereum’s price, leading to a neutral view. In the long term, steady whale accumulation and institutional interest could underpin Ethereum’s bullish fundamentals, but exchange inflows warrant caution for potential volatility.