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Whale Alert, a popular cryptocurrency tracker that keeps an eye on large crypto transactions, has spotted a massive Ethereum withdrawal from the world’s largest exchange, Binance.
The transaction occurred as the crypto market turned green again after spending a long period in the red zone, and the second-largest crypto, Ethereum, has regained the $2,000 price zone.
77,000 ETH leaves Binance for unknown wallet
The aforementioned data source has revealed that approximately nine hours ago, an anonymous cryptocurrency investor withdrew an enormous amount of Ethereum from the largest crypto trading venue in the world, Binance.
While it may look like a purchase and a withdrawal to a cold wallet for long-term storage, in reality, there are also other options — exchange maintenance, staking or even a whale rearranging his crypto holdings.
Still, the amount of ETH in question is impressive: 77,000 ETH valued at $152,621,215 at the time of the transfer.
In the meantime, another on-chain data source on X, @OnchainLens, spread the word about a bullish whale who bought 4,900 ETH for nearly $10 million, also on Binance. The data source believes that the whale’s behavior shows he is “likely to buy more.”
Stock markets nosedive, while crypto holds strong
Bitcoin and top altcoins are, for once, acting as a safe haven, as multiple influencers on the X social media app have pointed out, while the main stock market indexes and the traditional inflation hedge, gold, are taking a deep plunge.
Among those are the JAN3 boss, Samson Mow, and the founder and CEO of Crypto Bureau, Nic Puckrin. Both have pointed at the plummeting Nasdaq, S&P 500 and South Korea's KOSPI index. Gold has shown negative market dynamics as well. Mow believes that “something has shifted” around Bitcoin, assuming that BTC has been decoupling from stocks.
The stock markets are reacting heavily to the unfolding geopolitical situation in the Middle East, which is having a great impact on oil prices and, therefore, the energy market in general. Hence, there was a big drop in the major stock market indexes.
Meanwhile, the crypto market is back in the green zone, with Bitcoin having rebounded to $71,720, staging a nearly 8% surge over the past 24 hours.
Dan Burgin
Vladislav Sopov
