Crypto.news - An ethereum trader that recently made a $4.49 million profit by trading ETH on the Binance exchange has just transferred 3,000 ETH to the exchange again.
Ether trader moves value
The global cryptocurrency markets have seen a resurgence in recent weeks, overcoming the widespread FUD triggered by the U.S. SEC’s enforcement actions against several market participants.
Ethereum (ETH), the world’s second-largest cryptocurrency, has also witnessed strong bullish momentum this week, hitting a high of over $1,976 on July 3.
However, despite the strong charge of the bulls so far, on-chain data released by Spot on Chain shows an ETH trader, who had previously earned a profit of over $4 million by correctly catching the token’s previous dump-pump cycles, may be anticipating an imminent ether price crash.
Per a Twitter thread by the researchers, the trader has transferred 3000 ETH (worth around $5.87 million at the time) to Binance. The whale previously accumulated ETH during the Nov 2022 and Jun. 2023 lows at an average purchase price of $1,218.