Whale Withdraws Ethereum Worth $15.9M from Binance Amid Price Rally
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Whale Withdraws Ethereum Worth $15.9M from Binance Amid Price Rally

  • LookOnChain revealed that an Ethereum whale withdrew 8,398 ETH worth $15.9 million from Binance. 
  • The whale has, in recent days, deposited millions worth of ETH to Binance and has made over $14.7 million profit. 
  • Ether’s price picked up in the last 24 hours, adding a marginal gain of 0.55%

Following its slow increase toward the $1900 price range, Ethereum has piqued the curiosity of a number of investors, with whale activity increasing significantly. Lookonchain, a blockchain analytics company, announced today that an ETH whale with the wallet address “0xb15” withdrawn 8,398 ETH worth around $15.9 million from crypto exchange Binance. 

The transactions were conducted in the early hours of Tuesday by the whale who has been on an ETH buying binge. According to Lookonchain, the whale made a total profit of $5.5 million on their prior trade, with an unrealized profit of $1.04 million on their current trade.  

The data analytics platform estimates that the trader has made more than $14.5 million from seven completed trades, with an 85.7% win rate thus far. According to Lookonchain, the whale always bought ETH at lows and sold it at highs. The whale has now withdrawn 27,714 ETH from Binance, totaling nearly $47 million at an average price of $1,857 in the last two days.

Read Also: Ethereum Soar Close To $1,900

Meanwhile, Ether’s price has recovered as a result of a bitcoin-fueled bull run. According to CoinMarketCap data, Ether has increased somewhat in the last 24 hours, adding a 0.55% gain. ETH has gained 5.37% during the last week on the weekly price chart. 

At the time of publication, Ether was trading for $1890 per unit. Despite the price increase, transaction volumes have decreased. Nonetheless, with a market cap of $277 billion, the token remains the second-largest cryptocurrency.

Ether Price Chart
Ether Price Chart | Source: Coinstats

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