An Ethereum (ETH) whale has recently caught the attention of crypto enthusiasts as it withdrew a staggering amount of ETH from the popular exchange Binance.
Over the course of a month, the whale moved more than $91 million worth of the leading altcoin, according to blockchain tracking firm Lookonchain.
Lookonchain’s data reveals that the Ethereum whale withdrew a total of 50,100 ETH, equivalent to $91.2 million, from Binance starting from June 8th. Interestingly, the whale has also engaged in staking, with a stake of 34,560 ETH, valued at approximately $65 million.
In addition to the ETH withdrawals, Lookonchain also observed the same whale accumulating substantial amounts of ETH, along with tokens from other projects.
The whale purchased 3,115 ETH, utilizing 6 million USDC borrowed from Aave. The investor also acquired the decentralized stablecoin lending project CurveDAO (CRV) and the Ethereum liquid staking service Lido (LDO), withdrawing significant sums of both tokens from Binance.
Lookonchain has previously identified this whale as a savvy trader known for making clutch trades. The whale reportedly sold ETH at a local peak, exchanged USDC for ETH during the de-pegging phase, and withdrew all funds from FTX just before the exchange suspended user withdrawals.
Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.
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