Metalpha Moves $77.55 Million in Ethereum to Binance

Metalpha, a major crypto wealth management firm based in Hong Kong, recently transferred $77.55 million in Ethereum (ETH) to Binance, as reported by Lookonchain.

Over several transactions, Metalpha moved a total of 33,589 ETH to the exchange, including a notable transfer of 10,000 ETH valued at $23.45 million on Monday.

Currently, Metalpha retains 51,300 ETH, worth approximately $120 million.

Lookonchain also highlighted increased activity among Ethereum whales. One whale recently purchased 5,000 ETH for $11.46 million at recent lows.

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This whale had previously bought 5,200 ETH at an average price of $1,322 in November 2022 and sold it at an average price of $2,093 between December 2023 and January 2024, realizing a profit of over $4 million.

At present, Ethereum is trading at $2,378, marking a 1.5% increase in the last 24 hours.

Alexander Stefanov