- 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 Lookonchain, a blockchain analytics company, announced today that an ETH whale with the wallet address “0xb15” withdrawn 8,398 ETH worth around $15.9 million from crypto exchange Binance.
🚨 Smart whale 0xb15 withdrew another 8,398 $ETH ($15.9M) from #Binance at $1,897 ~6hrs ago.
In total, the whale has withdrawn 25,714 $ETH ($47.8M) from #Binance at $1,857 on average over the past 2 days.
His profit for the last trade is $5.5M while his floating profit for the… https://t.co/5RulrIy5Qu pic.twitter.com/T65J9E5ter
— Spot On Chain (@spotonchain) November 7, 2023
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 The whale has now withdrawn 27,714 ETH from Binance, totaling nearly $47 million at an average price of $1,857 in the last two days.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.
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