A Whale Deposited 1,000 ETH ($1,83M) to Binance: What are Their Previous Moves?

The actions of large-scale investors, often referred to as ‘whales’, can significantly influence market trends. Recently, a notable Ethereum (ETH) whale has been making waves with their transactions.

Hours ago, this whale made a substantial deposit of 1,000 ETH, equivalent to approximately $1.83 million, into Binance, one of the world’s leading cryptocurrency exchanges. This move is the latest in a series of significant transactions involving this whale and Ethereum.

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On June 16, the whale redeemed a staggering 7,923 ETH, which was valued at around $14.5 million at the time. This was followed by another deposit into Binance on June 21, this time amounting to 2,859 ETH or approximately $5.4 million. Interestingly, this deposit was made after the price of Ethereum saw a notable increase.

In addition to these transactions, the whale also made a significant sale on a decentralized exchange (DEX). They sold 1,700 ETH in exchange for 3.17 million Tether (USDT), a popular stablecoin. The average price at which this transaction took place was $1,869 per ETH.

These transactions provide a fascinating insight into the strategies of large-scale cryptocurrency investors. As the Ethereum market continues to evolve, the actions of these whales will undoubtedly continue to shape its trajectory.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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