Anonymous cryptocurrency transaction with Ethereum for $ 102 million

Whale Alert data indicates an important event in the crypto market: 26,889 ETH $3,243.42 Bridged Ether (StarkGate) -3.65% Market capitalization $0.29 billion VOL. 24 hours $1.19 billion worth $ 102.18 million were transferred to the Binance account from an unknown crypto wallet.

Market analysts explained that such large-scale transactions usually cause intrigue in the cryptocurrency community. Such steps are often interpreted as an attempt by a large investor to liquidate its assets. This transfer, in particular, coincides with the recent jump in Ethereum’s price to $ 3,800, the highest price point since January 2022.

ETH’s recent 9% weekly rise was overshadowed by the monumental jump in the price of bitcoin. Although the current value of Ethereum is $ 3,943 (as of the morning of March 8 — ed.), it is still far from its all-time high of $ 4,868.

The appearance of Ethereum on Binance has sparked speculation about the intentions of cryptocurrencies. Traditionally, large transfers to exchanges are seen as harbingers of potential sell-offs, while withdrawals often signal bullish sentiment. This transfer, in particular, is worrisome because it coincides with the upward trajectory of Ethereum, which prompts speculation about the motives behind such a significant movement of assets.