Nexo-Linked Ethereum Whale Sends 4,946 ETH to Binance
In keeping with a string of noteworthy transactions, a well-known Ethereum whale connected to Nexo has sent an extra $17 million in ETH to Binance. Wallets linked to Nexo have been actively transferring money into the centralized exchange, according to on-chain statistics. On December 13, a significant 18,000 ETH, worth more than $70.8 million, was unstaked and deposited into Binance. Analysts are keeping a close eye on whether these transactions indicate impending price changes or liquidity management initiatives by Nexo-related firms, as these actions have sparked conjecture over possible market strategies.
A whale (related to #Nexo) deposited 4,946 $ETH ($17.2M) to #Binance again in the past hour. Since Dec 2, #Nexo has deposited a total of 114,262 $ETH ($423.3M) into #Binance at an average price of $3,705.
ETH Price Holds Strong Above $3K Despite Whale Sell-Offs and Market Pressure
In recent weeks, there has been a notable unloading of Ethereum by whales. A whale used the $77.7 million, or more than 22,740 ETH, that was transferred into Binance earlier this month to pay off debt. The whale entailed cashing out $137.8 million in stablecoins, and $170 million, or 49,910 ETH, also made its way to Binance. The whale’s actions contribute to comparable sell-offs that have occurred in the past month, even though the transactions aren’t quite panic selling.
Notable sellers include the Ethereum Foundation in addition to Nexo, which has been active lately. However, even with the dumping, the price of ETH is still strong at above $3k. It was down roughly 3.69% during the last 24 hours, trading at $3,357 at the time of writing.
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