According to On-Chain Data, an Ethereum Whale Withdrew Over $90.0M Worth of ETH from Binance in a Single Month


Over the last month, a large buyer of Ethereum (ETH) has been seen making large withdrawals from the cryptocurrency market Binance.

According to Lookonchain, a blockchain analytics company, an Ethereum whale has withdrawn 50,100 ETH from Binance since June 8th, at a value of nearly $91 million.

According to Binance’s tweets, “This whale just withdrew $8,500 ETH ($16.3 million).” Since June 8 the whale has taken out a total of 50,100 ETH, or $91.2 million, from Binance and staked a total of 34,560 ETH, or $65 million.

Another large-scale ETH purchaser was detected by Lookonchain. The wealthy backer also amassed CurveDAO, a decentralized stablecoin lending initiative, and Lido, a liquid staking service for Ethereum.

“Today, a whale purchased ETH and CRV. He obtained a loan of $8,000,000 from Aave and used $6,000,000 to purchase 3,115 ETH at $1,926. And he cashed out $1.41 million in CRV and $2.35 million in ETH from Binance, totalling $1.83 million.

From June 7-11, he withdrew a total of 143,533 LDO worth $326,000 from Binance and purchased an additional 737,921 LDO at a price of $1.92, spending a total of 800 ETH (1.42 million).”

Lookonchain discovered a whale last week with a history of extremely clutch trades, such as selling Ethereum (ETH) at a local top, exchanging USDC for ETH before it lost its dollar peg, and removing all of its funds from the defunct centralized crypto exchange FTX just before it suspended user withdrawals.

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