Cryptocurrency News

Ethereum whale moves $20 million to Binance as trading activity surges

In recent cryptocurrency news, a significant Ethereum transfer was documented by EmberCN on Monday. A so-called “whale address,” known for managing large sums of the digital currency, moved 8,000 ETH to Binance, a leading cryptocurrency exchange. The transaction’s value was approximately $13.24 million, with each Ethereum priced at $1665 at the time.

This is not the first time this whale address has been involved in substantial transactions. Between August 29th and August 31st, it transferred an additional 4,000 ETH. Over a span of just 20 days, it has moved a total of 12,000 ETH to Binance. The combined worth of these transactions is estimated at $20 million.

The whale address was heavily funded shortly after its creation in March when it received a massive deposit of 64,000 ETH from czsamsunsb.eth. This transaction was valued at roughly $106 million. Observers have speculated on a potential association between this whale address and czsamsunsb.eth.

In related developments, CoinCu reported a surge in trading activity on the cryptocurrency exchange Deribit. The data was sourced from Greeks.Live, a website that tracks options data. The increased activity involved Ethereum call options contracts.

The total value of these contracts reached an impressive $150 million. Large-scale Ethereum traders, often referred to as ‘whales,’ have been particularly active during this period. Nearly 92,600 Ethereum call option contracts were purchased during this time, indicating that whales are making significant movements in the cryptocurrency market.


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