A whale that had been dormant for 9 years moved 2,903 $ETH into Coinbase today. The scary part isn’t the money—it’s that this isn’t the first whale to do so this week 🐋
According to Lookonchain, these 3 addresses bought in about 9 years ago for roughly $9.9, and are now sitting on gains of around 250x. The transfer of about $7.22 million is only 2% of Binance’s daily ETH spot trading volume ($370 million).
But look at the bigger picture: on October 8, pinosaur.eth, which had held for 9 years, transferred 9,618 ETH to Kraken to sell. Long-term holders are steadily loosening their grip.
Also on the same day, according to Odaily, citing monitoring by Ai Yi, a whale deposited 2,380 $BNB —about $1.85 million—into Binance within 20 minutes, possibly selling its entire position.
Binance, 13:21: ETH at $2,495, down 7.15% over 7 days, with a daily RSI of 25.8.
My take: A single transfer doesn’t determine the market; a steady stream of long-time holders exiting is what shapes sentiment 📍
If ETH holds above the 7-day low of $2,406, selling pressure has likely been absorbed, and an oversold bounce may come first;
If it falls below $2,406, selling by old whales could easily amplify panic.
When someone who’s made 250x over 9 years starts selling, would you buy their coins?
Sources: Lookonchain, PANews, Odaily, Binance market data
#以太坊 #巨鲸动向 $ETH $BNB
#BinanceSquare
⚠️ The above is a summary of information and my personal opinion, not investment advice. DYOR.
According to Lookonchain, these 3 addresses bought in about 9 years ago for roughly $9.9, and are now sitting on gains of around 250x. The transfer of about $7.22 million is only 2% of Binance’s daily ETH spot trading volume ($370 million).
But look at the bigger picture: on October 8, pinosaur.eth, which had held for 9 years, transferred 9,618 ETH to Kraken to sell. Long-term holders are steadily loosening their grip.
Also on the same day, according to Odaily, citing monitoring by Ai Yi, a whale deposited 2,380 $BNB —about $1.85 million—into Binance within 20 minutes, possibly selling its entire position.
Binance, 13:21: ETH at $2,495, down 7.15% over 7 days, with a daily RSI of 25.8.
My take: A single transfer doesn’t determine the market; a steady stream of long-time holders exiting is what shapes sentiment 📍
If ETH holds above the 7-day low of $2,406, selling pressure has likely been absorbed, and an oversold bounce may come first;
If it falls below $2,406, selling by old whales could easily amplify panic.
When someone who’s made 250x over 9 years starts selling, would you buy their coins?
Sources: Lookonchain, PANews, Odaily, Binance market data
#以太坊 #巨鲸动向 $ETH $BNB
#BinanceSquare
⚠️ The above is a summary of information and my personal opinion, not investment advice. DYOR.