Major Crypto Whale Moves Millions in Ethereum Off Binance

A significant Ethereum withdrawal has been detected on Binance, with a wallet linked to Chun Wang, co-founder of F2Pool, removing 9,000 ETH valued at approximately $17.86 million.

This transfer caught the attention of on-chain researchers due to its substantial size and was subsequently deposited into Aave for yield generation. The whale's total Ethereum holdings now stand at around $158.72 million.

This move is not an isolated incident, as several other major whales are currently accumulating and moving substantial amounts of Ethereum off centralized exchanges. In fact, another whale withdrew 9,976 ETH worth around $19.8 million from Binance within a short two-hour window.