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The Hong Kong-based crypto wealth management giant Metalpha deposited $77.55 million worth of Ethereum (ETH) to Binance in the past few days, according to the digital asset tracker Lookonchain.
Metalpha sent a total of 33,589 ETH to the top global crypto exchange over multiple transactions, including 10,000 ETH worth $23.45 million on Monday.
The firm still holds 51,300 ETH worth $120 million, according to Lookonchain.
The crypto tracker notes that other Ethereum whales are accumulating.
“A smart whale bought 5,000 ETH ($11.46 million) at the bottom again in the past two days! The whale bought 5,200 ETH at an average price of $1,322 in November 2022. Then sold it at an average price of $2,093 in January, December 2023, and January 2024, making more than $4 million!”
Ethereum is trading for $2,378 at time of writing. The second-ranked crypto asset by market cap is up 1.5% in the past 24 hours.
Lookonchain also notes that a 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 it still has 1.84 million SOL worth $246 million staked, according to the crypto tracker.
SOL is trading at $135.57 at time of writing. The 5th-ranked crypto asset by market cap is up more than 0.5% in the past 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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