90,000 ETH were directly locked into staking—this operation doesn’t look like it’s meant for short-term trading.
Over the past week, the address 0x2d59 has accumulated withdrawals of 90,000 ETH from Binance-related addresses. That totals roughly $170 million. Just two hours ago, it received 50,000 ETH, and the very next second it was all transferred into an Ethereum beacon chain deposit contract.
The 40,000 ETH bought the week before was staked in just as early.
Now, a bunch of people see these “whale” buys and shout “buy the dip,” but you have to look at what he did after buying.
Over the past week, the address 0x2d59 has accumulated withdrawals of 90,000 ETH from Binance-related addresses. That totals roughly $170 million. Just two hours ago, it received 50,000 ETH, and the very next second it was all transferred into an Ethereum beacon chain deposit contract.
The 40,000 ETH bought the week before was staked in just as early.
Now, a bunch of people see these “whale” buys and shout “buy the dip,” but you have to look at what he did after buying.