Whale Accumulates 45,000 Ethereum On Binance: Lookonchain Report

Key Points:

• Large amounts of Ethereum have been withdrawn from #Binance by whales.
• Smartestmoney.eth is long ETH on Aave, while another wallet suffered a significant loss dumping all APE.

Whales withdrawing large amounts of Ethereum from Binance, with one withdrawing 2,000 ETH ($3.36M) on August 24 and 42,800 ETH ($72M) since May 8.

On August 24 and June 9, Lookonchain reported about a whale that had been accumulating ETH on Binance. The whale withdrew 2,000 ETH ($3.36M) from Binance on August 24 and has withdrawn a total of 42,800 ETH ($72M) from Binance since May 8.

On June 9, the whale withdrew 15.2K ETH ($28M) from Binance. The wallet was created on May 8, and has withdrawn a total of 39.3K ETH ($72M) from Binance, each seemingly withdrawn after a price drop.

It is unclear if these whales are accumulating ETH for the upcoming bull market, but their actions suggest that they believe in the future of the cryptocurrency.

In addition, smartestmoney.eth is reportedly long ETH on Aave. He borrowed 10M USDC from Aave and deposited it to Binance. Then he withdrew 5,500 ETH ($9.24M) from Binance hours ago.

On the other hand, a wallet dumped all APE at a loss of ~$1.5M 8 hours ago. The wallet claimed 93,700 APE and spent 749 ETH ($2M at the time) to buy 96,276 APE at a price of $21 on May 1, 2022. Then it dumped all APE at $1.51, resulting in a significant loss.

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