According to digital asset tracking site Lookonchain, Hong Kong-based crypto asset management giant Metalpha has deposited $77.55 million worth of Ethereum (ETH) to Binance over the past few days.
Metalpa sent a total of 33,589 ETH to the world’s largest cryptocurrency exchange through several transactions, including 10,000 ETH (worth $23.45 million) on Monday.
According to Lookonchain, the company still holds 51,300 ETH, worth $120 million.
Cryptocurrency trackers point out that other Ethereum whales are accumulating.
“A smart whale bought back 5,000 ETH ($11.46M) off the floor in the last two days! This whale bought 5,200 ETH in November 2022 at an average price of $1,322. He then sold them in January, December 2023, and January 2024 at an average price of $2,093, making over $4M!”
Ethereum is trading at $2,378 at the time of writing. The second-largest cryptocurrency by market cap is up 1.5% over the past 24 hours.
Lookonchain also noted that the Solana whale sold 20,000 SOL worth $2.66 million on Monday. The address has sold a total of 715,000 SOL worth $102 million since the beginning of the year, and according to the crypto tracker, there are still 1.84 million SOL staked worth $246 million.
SOL is trading at $135.57 at the time of writing. The fifth-largest cryptocurrency asset by market cap is up more than 0.5% in the last 24 hours.
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