Binance received another $17,000,000 from a whale who recently sent Binance a large amount of Ethereum.
Onchain data indicates that the whale has a relationship with Nexo.
Recently, Nexo wallets or addresses associated with the crypto platform have deposited ETH in the centralized cryptocurrency exchange. This includes over $70.8 Million in unstaked Ethereum, which was moved on December 13.
“A whale (related to #Nexo) deposited 4,946 $ETH ($17.2M) to #Binance again in the past hour. Since Dec 2, #Nexo has deposited a total of 114,262 $ETH ($423.3M) into #Binance at an average price of $3,705.”
Lookonchain
In recent weeks, the Ethereum market saw a large amount of whales selling their holdings.
The whale used the money to pay off debt. Binance also received $170 Million, or 49 910 ETH. The whale was involved in cashing out $137.8 millions of stablecoins.
Although the sales are not a sign of panic, they do add to the similar selling that has occurred in the last month.
ETH has been dumped by a number of large wallets as it struggles to rise.
Ethereum fell below $3,200 as BTC prices retreated from their all-time highest above $108k. Gains of almost $4,000 in the previous days provided an opportunity to take profits. Some of the addresses have taken the money, which has contributed to the struggle and decline that is affecting bulls.
Ethereum Foundation is another notable seller. Justin Sun has been very aggressive, as well.
ETH price is still above $3k despite offloading. It hovered around $3,448 at the time of writing – about 1.2% down in the past 24 hours.
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Source: crypto.news
