Over three days, 7,500 ETH worth more than $17.11 million flowed from a restaking address to Binance.
According to on-chain analyst Ai Yi, the address 0x924...a2BB0 has been redeeming these ETH from Etherfi since November 5, then depositing them into Binance. The activity has been flagged as a suspected sale. The before-and-after contrast is clear: before redemption, the ETH was earning yield on Etherfi; afterward, it left the protocol for an exchange address. The same address still has 1,483.94 ETH staked with Kelp DAO, with no corresponding withdrawal observed.
· The redemption and deposit path has been confirmed; the suspected sale is the analyst’s assessment, and the source material does not disclose whether a trade took place.
· The remaining staked position is less than one-fifth the size of the amount redeemed, and the two actions are not synchronized.
Would you watch changes in Etherfi’s redemption queue first, or look at ETH inflows to Binance?
According to on-chain analyst Ai Yi, the address 0x924...a2BB0 has been redeeming these ETH from Etherfi since November 5, then depositing them into Binance. The activity has been flagged as a suspected sale. The before-and-after contrast is clear: before redemption, the ETH was earning yield on Etherfi; afterward, it left the protocol for an exchange address. The same address still has 1,483.94 ETH staked with Kelp DAO, with no corresponding withdrawal observed.
· The redemption and deposit path has been confirmed; the suspected sale is the analyst’s assessment, and the source material does not disclose whether a trade took place.
· The remaining staked position is less than one-fifth the size of the amount redeemed, and the two actions are not synchronized.
Would you watch changes in Etherfi’s redemption queue first, or look at ETH inflows to Binance?
