Address Moves 362 ETH to Binance, Could Net $1.07M Profit
Three years ago, a crypto whale acquired 362.264 ETH at an average price of $1,237 per coin. Half an hour ago, the same address transferred the entire 362.264 ETH position to Binance. If sold on the exchange, this move would realize approximately $1.066 million in profit, representing a 237% ROI. The large transfer of ETH to a major centralized exchange signals potential profit-taking and may heighten short-term sell pressure. Traders should watch Binance order books and monitor ETH price action closely, as whale-driven supply shifts often influence market volatility and liquidity.
Bearish
A transfer of 362.264 ETH from a long-term holder to Binance suggests imminent profit-taking. Large whale withdrawals to a centralized exchange have historically increased sell pressure and liquidity on order books, often leading to short-term price dips. In past events, similar whale movements preceded temporary ETH corrections as traders anticipated big sell orders. While the long-term fundamentals of Ethereum remain intact, this specific move is likely to weigh on ETH’s near-term price stability.