Whale Withdraws 10,999 ETH from Binance for Staking, Nets $13.53M Profit
Onchain Lens data shows that over the past two months, a crypto whale has withdrawn a total of 10,999 ETH (approximately $46.69 million) from Binance for staking on EigenLayer and Ethereum 2.0. In the latest move, the whale extracted 2,009 ETH (about $8.53 million) specifically for this purpose. Thanks to staking rewards, the whale’s strategy has so far generated a profit of around $13.53 million. Large-scale ETH withdrawals reduce circulating supply and highlight growing demand for staking yields. Traders should watch for further whale activity, as these moves can tighten liquidity and influence ETH market dynamics.
Bullish
The withdrawal of over 10,000 ETH for staking reflects strong bullish sentiment. By moving large holdings off exchanges and into EigenLayer and ETH 2.0 staking, the whale reduces short-term selling pressure and lowers circulating supply. The realized profit of $13.53 million validates staking as a lucrative yield strategy. Historically, significant ETH staking events—such as major entities depositing ETH into the Beacon Chain—have preceded upward price trends. In the short term, reduced supply can support price stability or gains. In the long term, increased staking participation strengthens network security and underpins Ethereum’s value, reinforcing a bullish outlook.